IreneDAO’s NFTs are causing a stir on crypto Twitter

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The story of the IreneDAO NFT craze began in October when Yuqing Irene Zhao, a 28-year-old Chinese crypto influencer and model, came up with the idea for So-Col with her business partner, Benjamin Tang.

So-Col is short for Social Collectables, Irene told Cointelegraph, and the platform aims to help content creators monetize their content and build communities with their fans.

Branded as the decentralized version of OnlyFans, Discord, Twitch, and Patreon, the platform allows content creators and influencers to convert their social media content into non-fungible collectibles (NFTs). It is powered by the StarkWares StarkEx layer two solution and leverages the decentralized ID protocol.

Fast forward to Tuesday last week, Tang and Irene launched a sticker pack for the Irenes Telegram community to use on the messaging app. The stickers feature overlaid photos of Irene with meme slang text used by members of the crypto community like gm, wen Binance, and yes ser.

A timeline: sticker pack, to NFT collection, to DAO

The sticker pack immediately gained popularity, reaching 2,000 installs in four days according to Irene. On Wednesday, she was contacted by a fan called libevm who told Cointelegraph that they would prefer to remain anonymous on Twitter, who suggested she consider turning the sticker pack into an NFT.

Irene agreed, and they tokenized the stickers into 1,106 NFTs in the OpenSea marketplace on Friday. NFTs are described as an access pass to the DAO Genesis Tribe, initially distributed with a free mint. They are currently trading at a floor price of 1.47 Ether ($4,668), with a total trading volume of 2,000 Ether ($6,351,180).

Source: IreneDAO NFT collection on OpenSea

At So-Col, we thought this was a great idea because we wanted to prototype our core concept of a community-driven creator economy. We then extended the idea to a DAO, and “libevm” and my co-founder Ben hacked it together in a day, she explained to Cointelegraph.

What we didn’t expect was that our test case was an instant success. In fact, I didn’t even know when it launched that I was out for a swimming lesson! By the time I came back from the pool after 40 minutes, the entire 500 NFT was gone. I didn’t even have one for myself!

Wait, so I have a DAO now?? https://t.co/qGJTygagLn

— Irene Zhao (@Irenezhao_) January 14, 2022 IreneDAO is polarizing the crypto community

Despite its success, neither libevm nor Irene say they took a dime from the project. Instead, the money will be used by the DAO community to experiment with the best ways to integrate web3 into the creator economy.

When the DAO was initially launched, members were able to create a free genesis pass by logging into the website. However, all 1,107 passes were claimed in the first 30 minutes, Irene explained. By purchasing one of the NFT stickers, fans also purchase a DAO membership.

The success of @Irenezhao_ will likely be a bigger factor in bringing more women into the crypto space than any other effort so far. Kinda crazy how far and how much access a smart, capable, attractive girl can get in this space.

This is not a politically correct view.

— Arthur (@Arthur_0x) January 16, 2022

We are discussing this in discord on how to expand it so that it becomes more inclusive, libevm explained, adding that they use NFTs to signal how funds should be used within the DAO.

Unsurprisingly, Irene’s success has caused polarizing reactions in the crypto community. Some big names like Mike Novogratz, CEO of Galaxy Digital, and YouTuber Logan Paul have joined the project themselves.

awww thank you! PM 🙂 https://t.co/h9dTPLL1pw

— IreneDAO (@0xIreneDao) January 16, 2022

Proud member of the @Irenezhao_ team I like the bustle. This young woman created her own brand in less than a year. And NFTs allow him to bring his community together, Novogratz wrote in a tweet on Sunday.

The Pauls OpenSea Wallet also shows that it bought 20 of the NFTs for a total of around 85.9 Ether ($280,000).

BREAKING: Logan Paul bought 20 NFTs from Irene Zhao (famous Instagram model) for over $270,000. #NFT @LoganPaul #Irene pic.twitter.com/AwKhpUFSsK

— M. Whale (@CryptoWhale) January 16, 2022 Is a collaboration between Ghozali and Irene Zhao planned?

Libevm told Cointelegraph that they came up with the idea of ​​turning Telegram stickers into an NFT collection following the success of fellow crypto influencer Ghozali. The 22-year-old Indonesian earned $22 million selling NFT selfies on the OpenSea marketplace.

In fact, the members of IreneDAO already seem to have their sights set on a potential future collaboration. The DAO has spoken, Irene wrote in a January 14 tweet. I would like to extend an open invitation to you to work on a collaboration.

Since then, someone has created an OpenSea account called GhozalIreneDAO, featuring questionable modifications of Ghozalis’ head superimposed on Irenes’ body.

Imagine what that might look like pic.twitter.com/i7lcI3PSyu

— nftalee (@nftalee) January 14, 2022

Related: 22-Year-Old Indonesian Earns $1 Million Selling NFT Selfies on OpenSea

So-Col recently closed its seed investment round, with investments from many industry leaders including Animoca, Defiance, 3AC and Mechanism.

In 2021, Irene rose to prominence in the crypto space through her role as Chief Marketing Officer at Konomi Network.

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