This is a photo shoot between a photographer and a model to create together for free. Thus, the model does not pay the photographer, and the photographer does not pay the model. This is the kind of shoot where everyone involved in the project has a contribution to make. For example, a model approaches a photographer with an unusual idea and is willing to invest her time and resources into the project, as is the photographer. They collect the image together, i.e. clothes for the model, the model hires a makeup artist if necessary. Also the model and the photographer look for a location for the photo shoot. In such photo shoots there is a financial investment, but not between photographer and model, but for the benefit of the overall result.
I also do this kind of photography, but only if I’m presented with a really interesting idea. Or, if I see that my idea fits a particular person, I invite them to take a picture.