The much-anticipated launch of CULT, the meme token from the creators of the Milady NFT project, has taken the crypto world by storm and it airdropped a total of $207 million worth of tokens to holders of Milady NFTs.
According to Arkham, the highest-value airdrop recipient will receive $2.22 million. Among the recipients are Aave founder Stani, who received an airdrop valued at $100,000, and Dragonfly investor Tom Schmidt, whose airdrop is worth $150,000.
Last Thursday, CULT memecoin officially launched on the Ethereum blockchain, and its fully diluted value (FDV) skyrocketed to over $600 million almost immediately.
According to the Dexscreener data, the token’s value briefly reached a high of $845 million but has since settled at around $630 million, as the market fluctuated following the initial surge.
CULT was introduced by Remilia Corporation, the team behind the Milady Maker NFTs. The project raised over $20.5 million during its pre-sale earlier this year, building significant buzz and anticipation among investors.
At the heart of the launch is the “Cult Fund,” with half of the total 10 billion token supply set aside for distribution. Of this, 50% was allocated for the token’s debut, while the remaining portion is earmarked for seasonal distribution in the future.
Notably, the team behind the project secured 15% of the supply, with an 18-month vesting period, while the project’s treasury holds between 20% and 35%, with a six-month vesting period.
The launch of CULT came with an exciting twist—a massive airdrop targeting holders of Remilia NFTs, such as Milady Maker and Redacted Remilio Babies. This airdrop sent waves through the NFT community, further fueling excitement around the launch.
Despite the meme coin craze taking over the NFT space, Remilia’s leader, Charlotte Fang, took to social media to clarify that CULT is not just another typical meme coin. She emphasized that the token is “fundamentally different,” designed as an “ecosystem coin” for a self-organizing, memetic movement. According to Fang, CULT represents a new category of token—what she calls a “metamemecoin” or “memeplexcoin.”
GopalAs other NFT projects like Pudgy Penguins prepare to launch their meme coins, the CULT token’s introduction marks an exciting new chapter for both the Milady NFT community and the broader cryptocurrency and meme coin space.
