How an Instagram Model Made Millions Selling Her NFT Collection

It is quite possible to earn a lot of money in the virtual world. Instagram model from Singapore received 4 million pounds (more than 400 million rubles) in 10 days, selling its photos as NFT - non-interchangeable tokens. The NFT market is developing more and more actively, and experts predict a great economic future for it. Find out what the Asian woman's goal was when creating her digital collection.

Irene Zhao has created a collection of thousands of different items, including her own photos and cryptic slang phrases, for example: "Damp It", "Up Only" and "Wen Moon". They can be purchased on the Opensea platform, where NFT and other digital collectibles are sold.

An NFT - non-interchangeable token is a unique piece of data (usually a picture, tweet, meme, or game character). It cannot be replaced, but it can be bought on the digital market. Buying an NFT, like any other collectible item, you are betting on increasing its value. This is a big risk, because if there is no demand for your token, you will lose what you have invested.

Unique tokens are a new market, so the demand for them is still much less than for physical goods — for example, collectible cards, works of art or retro cars. You can create your own NFT, but there is no guarantee that there will be a buyer for it, and you will not waste time and money.

For Irene Zhao, whose page has 420,000 Instagram users subscribed to, selling her IreneDAO collection is more than just making money. She considers her success to be part of a global movement to undermine the author's economy.

The influencer sells its NFT for Ethereum - Ethereum. The cost of this cryptocurrency is 240,000 rubles per unit. The entire collection of Irene was sold for 2,300 Ethereum (about 409 million rubles).

The beauty started working as an Instagram model when she studied at the University of Singapore. Nevertheless, there was nothing related to the "Asian fetish" in her collection.

NFT has become an easy way to make money, and even world celebrities use it. Despite the fact that tokens do not exist in reality, the rich do not stop investing in them.