In 2021, Brittany Pierre made over $109,000 selling nonfungible tokens, or NFTs, of her photography and flipping different NFTs she purchased for a revenue.
But earlier than that, Pierre was struggling to pay hire on her Chicago condo or afford groceries and bus fare, she tells CNBC Make It.
Her monetary state of affairs was very “contact and go,” Pierre, 36, says. She lived paycheck to paycheck and “bought fairly depressed.”
In March, Pierre realized about nonfungible tokens, or NFTs. Her buddy and fellow artist Elise Swopes had simply offered an NFT of her work for over $17,600, inspiring Pierre to attempt to do the identical. In addition to asking Swopes for steerage, “I dove straight in, simply doing a YouTube and a Google deep dive for a few days.”
One month later, Pierre began to promote her first NFTs and was quickly selling items for a number of hundred {dollars} every — greater than her bodily artwork earned her, she says.
“It was actual exhausting to do $50 photoshoots, attempting to peddle $30 prints. I’d have bookings right here and there, however it wasn’t sustainable,” she says. “That first couple of $200, $300 [NFT] gross sales was lots for me. That’s precisely what I wanted to pay hire.”
“Las//Abuelas” by Brittany Pierre.
Courtesy of Brittany Pierre
As she made extra money, Pierre was in a position to pay her payments and reside extra comfortably, but in addition donate to organizations and make investments in different artists’ NFTs — a few of which she’s flipped for a return.
“Last 12 months has been the primary 12 months that I might reside utterly abundantly, extra with my coronary heart, than I ever have been in a position to,” she says. “I’ve by no means had a job over $15 an hour, and final 12 months, I used to be in a position to make a bit of over $100,000.”
How it began
When beginning to study NFTs, Pierre observed a number of obstacles to entry: For a lot of the prime platforms, creators wanted to apply or be invited to listing their paintings. Once that occurs, creators should pay gasoline charges to mint their NFTs, which could be troublesome to afford.
Minting an NFT is the method of representing the asset on the blockchain. It permits NFT house owners to each show that they personal the asset and have the opportunity to promote it if they need. But to mint an NFT, creators should pay what’s known as a gasoline price, which may value lots of of {dollars} throughout instances of excessive congestion.
With the assistance of some associates who related her, Pierre was invited to NFT marketplace Foundation in March by photographer Zak Krevitt. Another artist raised funds to pay Pierre’s gasoline charges for her first couple of items so she might mint her work, she says.
At the time, “I in all probability had like 10 bucks in my bank account,” she says. “I feel charges [were] about $250.”
This strategy of onboarding and serving to fellow artists is frequent in the NFT and wider Web3 group. “That is one factor about this area: If you have got a query, any individual goes to reply it,” Pierre says.
“Crowned” by Brittany Pierre. This {photograph} of Alii Michele is a part of Pierre’s “BLACK//Beauty” sequence.
Courtesy of Brittany Pierre
Through her road model and portraiture pictures, “it is principally Black ladies and men that I attempt to uplift,” Pierre says. “When you search for ‘lovely particular person’ on Google, you usually see a white particular person. So I needed to put Black individuals on the blockchain so we will solidify that. I would like to spotlight the Black expertise.”
Pierre’s first gross sales occurred after a notable NFT collector known as Weesh noticed her artwork on Twitter. “After that, I went all in,” she says.
Pierre had discovered one other day job, however she determined to stop and pursue NFTs full-time, she says.
How it is going
The earnings was life-changing for Pierre.
“At first, it began with me paying hire on time and in full with out having to make funds. Then, I used to be in a position to get groceries — I used to be living on ramen, floor beef, tuna cans and water for a really very long time. I used to be in a position to fill my fridge, which I’ve by no means been in a position to do on my personal,” she says.
Beyond requirements, Pierre has been in a position to deal with herself. She has purchased extra movie pictures gear, she says, and splurges each as soon as in some time on Nikes. Additionally, Pierre has been saving to purchase a Tesla and a spot of her personal.
“All Aboard” by Brittany Pierre. This {photograph} is a part of Pierre’s “Chicago: Black+White” sequence.
Courtesy of Brittany Pierre
Overall, her “high quality of life” has improved, she says. And she’s in a position to assist others. If her mother, sister, niece or nephew want something, Pierre should purchase it for them. She additionally donates to organizations she’s obsessed with, she says.
Pierre additionally prioritizes giving again to the NFT group by onboarding different ladies, inviting them to Foundation and paying their gasoline charges, she says.
‘NFTs may help marginalized individuals’
Pierre sees cryptocurrency and NFTs as a approach to construct generational wealth, since they permit her to make investments and earn cash with out coping with conventional monetary methods.
“I undoubtedly assume that not solely NFTs, however crypto in normal, may help marginalized individuals, particularly the Black group,” she says.
Pierre has been profitable in the area, however what she has completed is not essentially straightforward or typical. When it comes to investing in cryptocurrency, monetary specialists suggest being cautious, understanding the dangers and taking time to research earlier than shopping for in.
Nonetheless, she says, “I do actually consider that crypto and NFTs could be the trail of actual monetary freedom and freedom from racist methods in authorities and banks.”
Sign up now: Get smarter about your money and career with our weekly newsletter
Don’t miss: