Milady Maker, an NFT project that gained attention for its unique and stylized artwork, finds itself embroiled in a series of controversies that cast doubt on its future. Launched in 2021 by Charlotte Fang, whose true identity was recently revealed as Krishna Okhandiar, Milady Maker initially gained traction with its 10,000 “neochibi” style profile NFTs. The project received a significant endorsement from Elon Musk, CEO of Tesla, in January 2023, which led to a surge in the collection’s floor price.
However, the surge in popularity was quickly followed by a barrage of ethical allegations against Okhandiar. In response, Okhandiar filed a lawsuit in the US District Court for the District of Nevada, accusing three independent contractors, Maxwell Roux, John Duff, and Henry Smith, of plotting to seize intellectual property, funds, and social media accounts belonging to Remilia Corporation, Milady’s parent company. Okhandiar alleges that their objective was to extort equity in the company from him.
In a twist, a countersuit was filed on September 22 in the Court of Chancery for the State of Delaware. Roux, Duff, Smith, and a fourth contributor, Bruno Nispel, claimed themselves as co-founders, further complicating the legal landscape. This web of legal disputes has created a dramatic downturn in market sentiment for Milady Maker. DeFiLlama statistics report a 39% drop in the collection’s floor prices, reaching approximately $3,460 or 2 Ether, in the latter half of September alone.
The future of Milady Maker now hangs in the balance as these legal battles and public disputes continue to play out. Investors and fans of the project are left pondering what lies ahead, eagerly awaiting court decisions and resolutions to internal issues. Unfortunately, this turmoil not only plummeted the market value of the project but also raised questions about its leadership.
Once a promising NFT collection, Milady Maker now faces an uncertain future. Its journey has been marred by controversies, lawsuits, and disputes, which have left cracks in its foundation. The once-celebrated artwork and creative vision have taken a backseat to the legal drama, overshadowing the project’s potential. As the uncertain future looms overhead, the fate of Milady Maker remains in the hands of the courts and the individuals involved in the ongoing legal battles.
While the fate of Milady Maker unfolds, investors and fans must grapple with the unknown. The wait for resolution grows increasingly frustrating, as the value of their investments and the future of the project hang in limbo. The once-promising NFT collection now carries with it a cloud of uncertainty, making it difficult to predict what lies ahead.
An NFT project that once shone brightly in the art world faces a multitude of challenges. Milady Maker’s journey has taken an unexpected turn, bringing to light a web of controversies, lawsuits, and questions over leadership. As the project’s future hangs in the balance, its fate lies in the hands of the courts and those involved. For now, all stakeholders can do is watch and wait, hoping for a resolution that will bring clarity and stability to a once-promising venture.