Huda Kattan on NFT investing: ‘Passion is essential’

As the founder and CEO of Huda Beauty — which has more than 50 million Instagram followers and a net worth of $500 million — Huda Kattan is one of the most influential people on the planet.

“Our mission at Huda Beauty is to un-f*** the beauty standards,” Kattan told Yahoo Finance at Gary Vaynerchuk’s Web 3.0 conference VeeCon at US Bank Stadium in Minneapolis (video above).

The beauty influencer is now shifting gears and bringing her success to the NFT realm. Kattan already owns hundreds of NFT’s, including the projects from World of Women, most of which she purchased on the OpenSea marketplace.

“As much money as I’ve made, I’ve lost a lot of money,” Kattan said about her new investments. “And it’s very easy to be like, ‘Oh my god buy this lipstick.’ There’s no real downfall — if you don’t like it, you lost $20. If you invest in an NFT project, you become part of the community, you invest so much time. And if that doesn’t go well, that’s your wealth , that is your livelihood.”

Kattan, who started out with nothing but a dream and a $6,000 loan from her sister, founded her success on creating a world of acceptance through social media, highlighting transparency, and empowering women.

Like her love for makeup, digital art is something Kattan truly enjoys, so investing in NFTs is not entirely a financial play for her. Like most at VeeCon, there’s an emotional attachment which can be dangerous for those who can’t afford to lose.

“Passion is essential,” said Kattan. “I know not everybody feels that way, but I do believe that when you have passion you bring so much more to that community, more than just the value of buying NFTs, the community part is so important.”

MINNEAPOLIS, MINNESOTA – MAY 21: Huda Kattan speaks onstage about Empowering Women in Web 3 during Veecon 2022 day 2 on May 21, 2022 in Minneapolis, Minnesota. (Photo by Daniel Zuchnik/Getty Images for Huda Kattan)

Being an Iraqi-American woman, Kattan is a rarity in the Web 3 community. Anecdotally, men outnumbered women at VeeCon at least 50-to-1 and women represented fewer than 15% of the crypto space according to recent studies.

Like fellow celebrity speakers Mila Kunis and Eva Longoria, Kattan hopes to change that.

“I am a strong woman, I’m a very confident woman, I have a lot of personality and am rarely uncomfortable in any situation and I am intimidated with that space so I can’t imagine how other women must feel,” she said . “Getting more women here needs to be a very conscious effort.”

Defying the odds has always come natural to Kattan. After all, she decided to go out on her own in 2008 after being fired as a recruiter. She then started a blog in 2010 and officially launched the company in 2013,

“I had spent my whole life investing in my CV, working to be polished, what would be perfect, I don’t think everybody needs to fit into a box and I certainly did not fit in any boxes,” she said.

Kattan now fits in a wide variety of packages with more than 150 Huda Beauty products in 1,500 stores worldwide.

The early lessons she learned as an entrepreneur still guide Kattan today and set the stage for that explicitly honest motto she developed a decade later.

“Everything was really scrappy and I think the element of just being able to get things done, not waiting for it to be perfect,” Kattan said. “We have this fear, this image of how things are supposed to be perfect and we’ re never that version of ourselves.”

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