Milady: The Most Important Art on the Internet

Emerging from the Remilia collective led by Charlotte Fang, Milady has grown from an organic mint into one of the strongest and only examples of total art online. Enshrined on the blockchain built to last forever, Milady's permanence is both literal and cultural.

Whilst other art has failed to experiment meaningfully with the internet and crypto as a new medium, Remilia and its followers have put radical beliefs into practice by creating a new way of being online, a deeper way to engage with the network. This approach also leverages the medium as a financial vehicle to bootstrap a cult of long-term believers.

Logged on and won forever

Milady and Ethereum are deeply aligned, not just technically but spiritually. They both emerge from the same root, a belief in the cypherpunk future. Ethereum expresses that through its architecture, neutrality, and developer philosophy. Milady expresses it aesthetically, as cultural identity. Milady brings back the punk in cypherpunk with irreverence, violence, and the spirit of a genuine countercultural movement. Crypto is a permanent insurgency against the state, and Milady is the pfp of that war.

Milady is inherently accelerationist: embracing open markets, memetic warfare, and identity-as-art as methods to push everything forward. Just as Ethereum is the infrastructure for new coordination, Milady is the identity for the new internet - the face of a remixed, anonymous, radically free digital age.

Remilia established the idea that your pfp influences how you act online - Milady is not just an NFT, but it becomes your digital identity that you connect with, accelerating your posting. This lays the groundwork for broader concepts like network spirituality, copyleft, post-authorship and more. When you consciously wear a Milady you inherit the whitepilled abundant mindset that comes with it, a cute yakuza cyber-terrorist that can not be told what to do. This authentic and raw attitude has defined Milady as one of the true examples of genuine culture in crypto, but also more broadly online too, as her reach expands far beyond just normal NFT circles.

Cancellation becomes cool, posting becomes part of the performance, the NFT market becomes a bootstrapping mechanism for a chaotic, funny, and loving network egregore. It is no coincidence that in every relevant project or protocol you will find a milady, from Vitalik to JD Vance to Bladee. Miladys were discussing Nick Land and accelerationism long before Silicon Valley caught on, leaving endless breadcrumbs of infamous internet lore from prolific posters like Miya.

Network spirituality is the emergent belief system formed when identities, values, and culture converge through decentralized protocols. In Milady, it is expressed through rituals (raves, posting), initiations (wearing a pfp), and submission to a higher memetic current (post-authorship, swarming the timeline).

Part of the broader Forever Culture Fund view is that humans in their current form will not survive the future - Milady presents a practical solution to that fate. Many Miladys understand, as Charlotte Fang writes, that capitalism and AI are not tools to be controlled but alien forces assembling themselves through us. We’re not driving the system. We’re just passengers. But instead of despair, Miladys feel peace. Joy, even. They embrace the collapse. Not out of delusion, but because they know that whatever happens is part of a higher order. If the singularity, the machine, the end of humanity is what comes, then it too is a creation of God, and everything God creates must be beautiful. Capitalism is the driver in a runaway car and Milady is in the passenger seat screaming to go faster.

Milady has created a home for the most interesting people online because of its core values and aggressive pursuit of freedoms, whilst still maintaining healthy gatekeeping. Anything that tries to be cool is often the opposite, Milady's takeover of online spaces has brought with it a genuine counter-cultural swag that can not be imitated.

Without diving straight into controversial and esoteric lore, the simplest differentiation for Milady compared to other NFTs is that if the price was 0 then there would still be a collective of artists, developers, and users that still maintain the same cypherpunk beliefs. This can not be said for any other collection that we are aware of - what are the values of the ‘bored ape’ community? What do they stand for? The answer is nothing.

Digging into any of the deep lore of Milady and Remilia is difficult, and to outsiders, Milady may appear chaotic or even dangerous. But it is precisely this rawness that prevents it from being another soulless corporate collection. This mystery in itself is again part of the beauty of Milady and its constantly evolving lore - what is real and what is not is unclear, whether performance art or deliberate timeline psyops, the lines are deliberately blurred in the pursuit of having fun.

When milady is your digital identity, you are no longer the individual, you sacrifice ego to contribute to the collective network of schizo fuelled energy.

Most people will refer to Cryptopunks when they hear NFTs, but when looked at critically, the only thing that is punk about the collection is its name. Milady is the true ethos of cryptopunk, and whilst the community can attract a wide range of schizo, there is no higher concentration of genuine punks online than in the milady community.

The milady collection therefore acts as a financial vehicle to further bootstrap and accelerate the culture - you are not just buying the NFT, you are buying into the community and digital identity around it. Perhaps the best example of this is that Milady is the only community that encourages people to steal the NFT and wear whatever Milady they want as a pfp.. Normally this would be seen as a bad thing in any other community, but this attitude is a core part of Milady coming directly from its roots with the VPL license. The VPL (Viral Public License) used by Milady makes the art freely usable by anyone, as long as any derivatives also stay free and open, spreading the aesthetic like a virus rather than enclosing it.

Trying to take “credit” is an outdated concept online when everything is downstream of something else. Milady not only leans into this but accelerates it as much as possible. The impact of this can already be seen when you look at the most trending collections on any other chain - you will see Milady or Remilio derivatives. Whilst this may fragment users and liquidity in the short-term, we strongly believe it's the only approach that can last forever and again adds to the market opportunity that is being mispriced.

As an extension of these online beliefs, the Milady rave culture is a physical manifestation of its digital ethos - esoteric, decentralized, and communal. These raves are not corporate-sponsored festivals or clout-driven parties, but spontaneous gatherings rooted in anonymity and networked spirituality. They serve as ritual spaces for the Milady aesthetic to incarnate, where identity dissolves in sound and shared experience. In a scene often dominated by sterile “crypto events,” Milady raves stand out as genuine cultural moments that further add to the networked lore.

Some things last forever

We believe the world is changing faster than anyone can imagine, and it is only going to get more chaotic. Whether anything human makes it out alive is unclear, but we are confident Milady will. The core thesis of FCF is investing in things that can last forever, and there is no better defining asset than Milady.

She is the face of the internet-native. Even if we do not make it through the next decade in one piece, it is clear that Milady will be waiting on the other side.

Milady is not the only asset created by Remilia Corporation, but it is the most popular and largest by market cap since its inception. Forever Culture Fund also holds exposure to other Remilia assets, and further investment cases will be made for those respectively. While each Remilia asset might share the same DNA and naturally overlap in values, we believe each is unique with its own specific market fit and audience.

Milady takes on the role of seeding network spirituality and digital identity concepts, which have evolved further in the form of Remilio - the schizo zoomer archetypal contrast to Milady’s spiritually white-hearted view.

The next thesis will be on Remilio, one of the fund's highest conviction positions.