Zhao is applying everything she ‘s studied in finance, social media, and the cryptocurrency industry. Many people were critical of the retouching, but it didn’t prevent the initiative from hitting a trading volume of 2,016.327 ETH. In OpenSea, IreneDAO outperformed CryptoPunks and PhantaBear in terms of trading volumes. According to the DAO, neither of them, including the model, would avoid all royalties.
- IreneDAO, a mooning NFTs initiative, took an exciting twist when Galaxy Digital CEO Mike Novogratz backed it, and a Twitter user said it was a fraud operated by a person who converted a model’s snaps into NFTs when she was unaware.
- The DAO is known to be dedicated to Irene Zhao, and the NFTs are nothing but unique tokenized stickers of the model’s images, with which comes a symbol of participation.
- Following a tweet from Mike Novogratz, an individual initiated a hoax by expressing that Irene Zhao is nothing more than a model for a profile that a male is operating, a lot many users began suspecting after this claim.
IreneDAO, the newest NFT project, was launched on OpenSea the previous Friday. It created a big storm and skyrocketed in value, but several scam alerts rang on when NFTs began circulating at 3 ETH.
The initiative’s foundational principles were Simplicity, Integrity, Meaning, and Purpose, with a play on the term Simp, which denotes males that praise a woman in a powerless manner without asking for anything in exchange. The DAO is devoted to social media personality Irene Zhao. The NFTs are unique tokenized collector stickers of her images. Each NFT provides its owner a kind of participation badge to the community of guys who worship Zhao, similar to the Bored Ape Yacht Club. Things began to follow an unpredictable route, which assisted the initiative to acquire attention when CEO Mike Novogratz tweeted:
Community Reactions
Most users considered it amusing and began to laugh about it, while others were irritated by it, believing it misrepresents the crypto environment. A person started a hoax by saying that Irene Zhao is merely a model, and the profile is operated by a male. Many people accepted that and began to suspect that the entire effort was a hoax and that the influencer was unaware of it. Zhao is yet to respond to Bitcoinist’s request for a remark.
On the other hand, Irene Zhao is a businesswoman and recently departed as a broker who does not require a man to manage her enterprise. Men, on the other hand, require her. Yuqing Zhao is a Chinese Instagram celebrity known to her followers as Irene and has been an influencer from 2016 and an ore broker since 2017. She quit her profession the previous year to pursue a career in cryptocurrency. Zhao said that she didn’t plan it when she started doing crypto early this year, but somehow she always knew it would be taking images for the rest of her life. She further added that developing a successful firm is a challenging trip with little sleep and no social life.
Concept of Connecting Influencers
As a result, IreneDAO, a global grassroots movement dedicated to destroying the creator economy, was formed in OpenSea. Zhao and her organisation team are executing a social test to evaluate how well the concept of interconnecting Influencers and their following through NFTs would play out. SO-COL intends to accomplish this on a much greater scale in the future. What appeared to be a perplexing NFT meme project for simps to invest in hopes to serve as the foundation for an eventual explosion of content creators, or simpfi, or the following OnlyFans, but with blockchain technology built-in.