NFT’s have been in a lot buzz in the recent times. If you are someone unaware of what it actually means then here’s a little trivia for you, NFT stands for Non-fungible Token. The ‘non-fungible’ part of NFT means that it is completely unique and cannot be directly replaced with something else. Unlike in currency where exchanging one note of equal value for another would leave you with the same amount, an NFT has its own unique value which is subjective.
Recently we have come across with yet another example of how an influencer used all her influence to rank in millions in just a time span of 10 days. A 28-year-old Singaporean influencer named Irene Zhao who not only launched her non-fungible tokens, but also broke the crypto market with her collections. The contents of NFTs goes somewhat like this, images of her with meme slang text over a green colored background which has led to a gain of a lot of sales and these NFTs have been listed on OpenSea, the credit of which goes to her army of fans amounting to 1,107 items under the IreneDAO collection.
The cheapest NFT, “Have Fun Staying Poor” is priced at $2600 while the entire collection has a trading volume of $5.58 million. Before being a part of the NFT, this influencer from Singapore was a commodity broker. As per reports she created the IreneDAO NFTs with the assistance of her business partner Benjamin Tang as a part of their dream to build “Social Collectibles”. AS a part of the same world which comprises of Irene’s fan club DAO core values “Simplicity, Integrity, Meaning, and Purpose.”
This is a sheer example of how social media influencers can channelize and monetize their conetent thereby building communities with their fans or simps.
