Milady NFT Founder Received a Lawsuit

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Last Updated on October 2, 2023 by Bitfinsider

Milady, one of the most popular and contentious NFT projects, has been rocked by an unexpected turn of events: its pseudonymous founders filed competing lawsuits accusing one other of fraud this month.

Since then, the days have been possibly the most stormy for the enterprise, which is no stranger to turbulence.

According to DefiLlama data, the value of Milady NFTs has dropped 39% in the previous two and a half weeks, to 2 ETH, or $3,460, as its creators exchange allegations in court and on social media.

“A risk here for the Milady crew is that their project has always shrouded itself in mystery and intrigue as a rebellious and taboo art collective,” Dennis Pourteaux, an investor at Huat Ventures and Harvard Business School guest professor who has written on Milady culture, told DL News.

“Now, amidst dueling lawsuits and equity disputes, there is a risk that the curtain gets pulled back and the warrior-poets are revealed as mere corporatists and litigants.”

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