Iris Nevins, a 29-year-old software engineer, made $140,000 from its non-fungible token (NFT) studio called Umba Daima, which promotes Black artists and educates people about Web3, CNBC Make It has learned.

Launched in February 2021, the studio helps artists to make money in the NFT space and helps build online communities for marketplaces. Nevins said:

We thought that we could do more, have bigger impact and generate more revenue for the artists, for ourselves, [with NFTs] than trying to sell prints and paintings online.

According to the report, most of the team members are volunteers, although Nevins pays them when she can. She believes that crypto & blockchain can create a "whole new economic system in which the power can be rebalanced."

Read also: Australia's 10-year-old Girl Mints NFTs to Support Charity

Nevins also criticizes current NFT marketplaces, saying they all "benefit from the work that people like myself do." She particularly noted:

It’s disappointing when a lot of these platforms don’t make an effort to collaborate with us. [They] can do more to partner with grassroots organizers.

Earlier, To The Moon reported that the well-known NFT marketplace called OpenSea generated almost 90% of NFT volume in the past year. The trading volume of NFTs in 2021 surged by 42,988% compared to 2020.

The volume surpassed the $13 billion mark with OpenSea generating 88% of the total trading volume (~$12.5 billion) in 2021.