A series of non-fungible tokens (NFTs) sold for an astounding S$7.5 million within ten days.
Yuqing Irene Zhao, a Chinese influencer and model, based in Singapore, appears in the photos.
On January 14, the 28-year-old lady introduced her non-fungible tokens (NFT), which went viral on the cryptocurrency market.
IreneDAO, a series of NFTs developed from her Telegram meme sticker pack, has so far made her a cool $7.5 million. Zhao, svelte and willowy, is transposed onto a mint green background with numerous meme slang text added, such as “Up Only,” “Wen Moon,” and “Damp It.”
The cheapest NFT right now is “Have Fun Staying Poor,” which costs 0.94 Ethereum and is worth about S$3,000.
The collection has a total trade volume of 2,300 Ethereum, which is almost S$7.5 million. Zhao, a graduate of the National University of Singapore (NUS), worked as a commodity dealer before pursuing a cryptocurrency business career.
She was making Telegram sticker packs for her fans when one recommended she mint them as NFTs. She told Cointelegraph.
Minting an NFT is how digital art becomes a part of the Ethereum blockchain, an immutable and tamper-proof public ledger. The photographs began as a Telegram sticker pack, and a Zhao fan proposed making them into an NFT collection.
Ghozali, a fellow crypto Indonesian influencer who gained US$1 million from around 1,000 photos minted as NFTs on Opensea, inspired the fan.
Ghozali took photos of his expressionless face while standing in front of the computer from 2017 to 2021 to assemble the images into a timelapse video for his graduation day.
After learning about blockchain technology, he decided to submit his selfies to OpenSea under “Ghozali Everyday” in December 2021 and priced them at S$3 each.
Ghozali felt it would be “funny” if collectors bought a picture of his face, and he had no idea that his selfies would become so popular.
They tokenized the stickers into 1,106 NFTs once she agreed to the suggestion, and they sold out in minutes.
Zhao’s collection has also piqued the interest of celebrities such as Galaxy Digital CEO Mike Novogratz and YouTuber Logan Paul, who have both invested in the IreneDAO NFTs.
The project’s funds will be used to “explore the best means of integrating Web3 into the creator economy” in the IreneDAO community.
IreneDAO’s slogan, according to their website, is SIMP: Simplicity, Integrity, Meaning, and Purpose.
Shift from Web 2.0 to Web 3.0
Zhao explained that she can now earn money as a content producer since people may directly support her through her works by investing money directly into the things she produces, which has the impact of investing in it. She used to rely on sponsored posts to make a living as a content producer.