The NFT craze appears to have no end as more and more people are getting involved and even spending millions on some NFTs.
Although NFTs are known to be pieces of art, some people have successfully managed to sell off their selfies as NFTs.
Recently, a Singapore based influencer sold a collection of her Instagram pictures as NFTs which are now worth millions.
Irene Zhao who is originally from China, has garnered over S$7.5 million (RM23,290,050) in 10 days through NFT sales alone.
The NFTs consist of images of her with meme slang texts over a coloured background. It has gained a lot of sales and are listed on OpenSea, amounting to 1,107 items under the IreneDAO collection.
The collection which was launched on 14 January, 2022, has a total trade volume of 2,300 Ethereum.
The images were originally a sticker pack on Telegram, but a fan suggested her to turn them into an NFT collection.
Together with her business partner Benjamin Tang, Zhao created the IreneDAO NFTs which aims to build “Social Collectibles”, or “So-Col” for short.
Zhao described So-Col as a “decentralised version of OnlyFans, Discord, Twitch and Patreon” where content creators can monetise their content by converting them into NFTs.
Some of the high-profile names who have bought into the IreneDao NFTs include Galaxy Digital CEO Mike Novogratz and YouTuber Logan Paul.
Yes we are!! Proud member of team @Irenezhao_ I love the hustle. This young woman has created her own brand in less than a year. And NFT’s allows her to pull her community together. pic.twitter.com/iZiAqXj1iX
— Mike Novogratz (@novogratz) January 16, 2022
The money made from sales will be used for the IreneDao community in hopes of experimenting the best way to integrate Web3 into the creator economy.
The IreneDao community is a grassroots movement that is “for the people, by the people”. Meanwhile, purchase of the NFTs will also get the buyer membership to IreneDao’s “Genesis Tribe”.
Zhao explains her reasons behind it
In a Twitter thread, Zhao explained her journey and how she ended up with the concept behind IreneDao.
“Here’s why IreneDao is not a fluke or as some may have it, an Asian Fetish. They are missing the real deal. Something bigger underlies the concept that is behind the IreneDao.”
She studied at the National University of Singapore and began her journey as a social media influencer and a commodity broker.
Here’s why @0xIreneDao is not a fluke or as some may have it, an Asian Fetish. They are missing the real deal. Something bigger underlies the concept that is behind the IreneDao.
??? Here’s the story:
— Irene Zhao (@Irenezhao_) January 20, 2022
She eventually went quit her job to focus on crypto full time, hence leading eventually the the collection.
“And hopefully, when So-Col is out, I can finally stop having to prove that I am the same Irene that is the Instagram Irene, the Youtuber Irene, or that I am not a male,” she added.
Also read: Indonesian Man Takes 933 Selfies in 5 Years, Sells Them as NFTs Which Are Now Worth Millions
