What Is Milady? Inside Ethereum’s Most Controversial NFT Cult 

Milady (short for Milady Maker) is an NFT collection featuring 10,000 profile pictures on the Ethereum blockchain. Each image is AI-generated and draws inspiration from Japanese street style, particularly a modernized form of chibi known as neochibi.

Launched in August 2021, Milady has become one of the hottest NFT collections over time. In early 2025, Ethereum co-founder Vitalik Buterin bought Milady #9286 and used it as his X/Twitter avatar for a while. Prior to that, in 2023, Elon Musk tweeted a Milady NFT meme, causing the collection’s trading volume to soar.

But Milady is known not only for its distinct design and the attention from high-profile figures. The project has also been shadowed by criticism, with debates around its ideology and alleged ties to extremist groups. 

Remilia Corporation: The Team Behind Milady 

Remilia, an art collective, originated as a social media group active on platforms like X and Discord. Before launching Milady Maker, Remilia organized crowdfunding through DAO for different goals. One of them was buying Alejandro Jodorowsky’s story bible for Dune to turn it into an animated Netflix series. Although the group won the auction in 2021, it couldn’t release the series due to legal challenges over individual property rights. Remilia supporters voted to use the funds for a complex, multi-part media project, one part of which was a writing contest.

Eventually, the founders focused on other initiatives, including the Remilia Quarterly publication, NFT collections Milady Maker, and Remilio Babies. 

Milady’s Troubled Origins: Nazi References and Alleged  Extremist Ties

Controversy around Milady NFTs started soon after its launch. Some members of the crypto community noted that a derivative collection titled ‘Milady, that B.I.T.C.H.' showcased T-shirts with designs reflecting Nazi ideology. There were T-shirts with the word “Treblinka” on them, which is the name of one of Nazi Germany’s most infamous concentration camps.

The Milady team responded to concerns in an X message, saying the word was generated by AI and they had no intention to be offensive. 

The next scandal was around Remilia's CEO, “Charlotte Fang,” also known as Charlie or Charlemagne. In May 2022, rumors started that there was a link between Charlie Fang and notorious online personality Miya, whose writings promoted racism, homophobia, misogyny, and anti-Semitism. 

According to one of the posts, Fang was connected to Systemspace, a group described by some as a suicide cult that allegedly promised a “paradise” after death and has been linked to the death of a 17-year-old. Pseudonymous DefiLlama founder 0xngmi shared screenshots from chats, where Fang publicly denied any connection to Miya. However, several leaked internal messages by the Milady creator called for erasing any association with Miya and an extremist online group, Kaliacc. 

Ultimately, Fang admitted to being Miya and stepped down from his role with the team. He stated that his actual views are not hateful and, while conceding the posts were juvenile, asserted they were not intended to cause harm.

In the comments, followers supported Fang, one of them saying that people overreacted, confusing internet performance art with real views. Following this confession, Milady trading volumes tanked, and the project faced industry-wide cancelations.

Developer Hack and Legal Battle Among Milady Leadership 

Despite stepping down from his official role in 2022, Fang has remained actively involved in the Milady ecosystem. In September 2023, he publicly addressed an exploit where a developer diverted around $1 million in fees from Remilia Corporation. 

According to the post, a developer working on Bonkler, an experimental finance art project, also took control of the codebase, tried to seize their social media accounts, and demanded a large share of the treasury, including NFT reserves. However, they couldn’t access the project’s reserves. 

The incident caused mutual accusations between Fang and the Remilia developers. At first, Fang filed a lawsuit, where he revealed his real name,  Krishna Okhandiar, his U.S. residency, and his status as the sole CEO of  Remilia Corporation from 2022. He claimed that he hired developers John Duff III, Henry Smith, Maxwell Roux, and Bruno Nispel as independent contractors, but they formed a conspiracy to seize control of the company's virtual servers. 

In a counter lawsuit, the four developers have accused Krishna Okhandiar of taking control over the NFT collection and misappropriation of funds. 

In March 2024, Fang reported another hack, revealing that Remilia’s hot wallets and its multisignature treasury were drained. Stolen assets included USDC stablecoins, 

Milady and Remilio NFTs.

Launch of Milady CULT Memecoin  

In June 2024, Remilia Corporation announced CULT coin  as its official ecosystem token. The company stated that CULT doesn’t have a utility proposition but is designed to function as a community token and reward loyalty. There is also another memecoin tied to the Milady NFT collection, called LADYS. However, based on company announcements, CULT is the only official memecoin of the project.

CULT was officially launched in December 2024, with tokens worth around $207 million airdropped to MILADY holders, including Aave founder and CEO Stani Kulechov and Dragonfly General Partner Tom Schmidt.

According to data from DEX Screener, CULT’s market capitalization surged above $500 million at its peak after the launch. However, following the initial hype, its market cap and price declined. At its highest, CULT traded at $0.007. The token’s price at the time of writing is $0.0008, down 89% from its all-time high.

It’s easy to confuse Milady’s CULT memecoin with another token of the same name. CULT DAO, a decentralized autonomous organization unrelated to Romelia or Milady NFTs, has its own native token called CULT, launched in 2022.

Milady NFT Collection by the Numbers 

Milady Maker is among the top 10 most expensive NFT collections, with a current floor price of 2.82 Ether (around $7,456). At the time of minting in August 2021, Milady NFTs were sold at a fixed price of 0.06 ETH (around $158 at current rates). The most expensive Milady Maker NFT to date is Milady #7489, which sold for 30 ETH (approximately $55,000) on May 10, 2023, shortly after Elon Musk posted a Milady meme..

There are currently 5,290 Milady holders. Since launch, the collection has seen a total trading volume of 165.6K ETH, and its current market cap is over $72.3 million.

Other Popular NFT Collections Besides Milady

Milady Maker is one of several well-known NFT collections. Other collections that have drawn significant attention include:

• CryptoPunks – A collection of 10,000 pixel-style characters launched in 2017. It’s often mentioned as one of the first NFT projects. The floor price of CryptoPunks is currently 46.29 ETH (over $122,600).
• Bored Ape Yacht Club (BAYC) – A set of 10,000 cartoon ape NFTs. Owners get access to certain events and can use their NFTs for personal or commercial projects. The project was launched in April 2021 by Yuga Labs.
• Azuki – Digital avatars with an anime-inspired look. The collection launched in January 2022 and gained attention for its art style and regular team updates.
• Doodles – Hand-drawn characters known for their bright colors and simple design. In early May 2025, Doodles launched its native token, DOOD, on the Solana blockchain.
• Pudgy Penguins – A popular NFT collection of 8,888 cartoon penguins. Its native token, PENGU, is currently among the top 100 cryptocurrencies, with a market cap of over $740 million.

These collections vary in style and purpose but have consistently remained among the top NFT projects. All of the above are profile picture NFTs (PFPs), the most popular category in the NFT space. Buyers often use these images as avatars, especially on platforms like X (formerly Twitter). Other NFT categories include blockchain-based domain names, digital art, and in-game assets used in blockchain games.

The Controversy and Growth of Milady Over Time

Milady gained attention through a mix of internet subcultures, public controversies, celebrity mentions, and legal disputes. The involvement of high-profile figures like Elon Musk and Vitalik Buterin boosted Milady’s visibility, showing how celebrity influence can quickly shift market dynamics and public perception. At the same time, controversies around alleged extremist ties and internal conflicts highlight the fragility of digital communities.

Despite these challenges, Milady’s community has remained resilient, actively engaging with the ecosystem through trading and new initiatives. As of 2025, Milady continues to be one of the most in-demand and controversial NFT collections.

FAQ

1. What Is Milady?

Milady, short for Milady Maker, is an NFT collection of 10,000 AI-generated profile pictures on the Ethereum blockchain. The art draws inspiration from Japanese street fashion, particularly a modernized chibi style called neochibi.

2. Who Is Behind Milady?

Milady is created by Remilia Corporation, an art collective that began as a social media group. They have organized various projects, including crowdfunding campaigns and other NFT collections like Remilio Babies.

3. What Controversies Have Surrounded Milady?

The project faced backlash for alleged Nazi references in derivative merchandise and accusations about extremist ties linked to the original CEO, “Charlotte Fang” (also known as Charlie or Charlemagne). Fang eventually stepped down after admitting to posting controversial content but denied hateful intent.

4. What Are Some Other Popular NFT Collections?

Other well-known collections include CryptoPunks, Bored Ape Yacht Club, Azuki, Doodles, and Pudgy Penguins. These are all profile picture NFTs (PFPs), the most popular type of NFTs.