Irene Zhao remains bullish on Web3


A lot has changed in the world of Web3 over the past year. Following the crypto market crash, NFT projects have struggled to survive and continue building. 

Projects which stored their funds in the form of cryptocurrencies – like Ethereum and Solana – saw their reserves depleted by as much as 70 per cent in a matter of months. This made it near impossible for them to follow through on their roadmaps. 

Meanwhile, others faced issues such as a growing lack of trust and interest among community members. With the collapse of large crypto players such as FTX, the investor sentiment around Web3 turned more cautious as well. 

Despite all of this, there are some who remain committed to the Web3 vision. Among them is Singaporean influencer Irene Zhao, who raised over US$5 million with her IreneDAO NFT collection in January last year.

Building on this success, Zhao started her own Web3 social media platform called So-Col. The idea was to revolutionise the way in which creators and fans interacted with each other. 

On traditional platforms like Instagram and TikTok, creators rely…

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