In less than two weeks since its release, a Chinese influencer’s non-fungible token initiative has reached a trading volume of 2,300 ether (about $5.5 million). Yuqing Irene Zhao, 28, from Singapore, designed the IreneDAO collection after making a sticker pack for her Telegram community.
The IreneDAO collection, which debuted on the NFT marketplace OpenSea on January 14, has 1,106 NFT photos of the crypto influencer in various stances with crypto terminology. The NFTs are now trading at a floor price of $1.47 per ether (roughly $4,668).
After learning about the success of Indonesian college student Sultan Gustaf Al Ghozali, a fan known as libevm apparently persuaded Zhao to transform the sticker pack into an NFT collection. Ghozali made almost $1 million by selling 1,000 of his selfies as NFTs. Zhao has even sought out to Ghozali on Twitter in the hopes of forming a partnership.
According to Zhao, the IreneDAO NFT collection was created as part of a plan to create a decentralised platform called Social Collectibles with libevm and business partner Benjamin Tang. We believed it was a brilliant idea at So-Col since we wanted to build a prototype for our core notion of a community-driven creator economy. We then turned the concept into a DAO, which libevm and my co-founder Ben cobbled together in less than a day, she was quoted as adding.
What we didn’t expect was for our test case to be a huge hit right away. In reality, I was out for a swimming lesson at the time it was launched, so I was completely unaware! The entire 500 NFTs were gone by the time I returned from the pool after 40 minutes. I didn’t even get one of my own!
Galaxy Digital CEO Mike Novogratz and YouTuber Logan Paul are just two of the high-profile personalities that have invested in the IreneDAO NFTs. Zhao, who previously made a living by marketing things on Instagram, said in a lengthy Twitter thread that followers can now directly support her by investing in her work through NFTs.
To get the latest crypto updates, follow Clout News on social media and don’t forget to subscribe to our Newsletter. If you have any queries, let us know in the comment section below!