"For her activism regarding HB2, Teen Vogue listed Schafer on its "21 Under 21" list in 2017, and granted her an interview with former United States Senator and Secretary of State Hillary Clinton.

Schafer has modelled for Prada, Dior, Miu Miu, Calvin Klein, Rick Owens, Helmut Lang, Tommy Hilfiger, Thierry Mugler, Coach, Maison Margiela, Vera Wang, Marc Jacobs, Versus Versace, Emilio Pucci, Ann Demeulemeester, and Erdem, among other fashion houses.

In 2019, Schafer was cast in the HBO series Euphoria, marking her acting debut. She received praise for her performance in the series, and the Primetime Emmy Awards came under fire for omitting her from the nominations along with other transgender actors. Aside from her leading role in the series, she also co-wrote an episode with the show's creator Sam Levinson. Additionally, she collaborated with him so that her character and the show's story reflected her experience.

In June 2020, in honor of the 50th anniversary of the first LGBTQ Pride parade, Queerty named Schafer among the 50 heroes "leading the nation toward equality, acceptance, and dignity for all people". In 2021, Time named her to its Next list of "100 emerging leaders who are shaping the future", with a tribute written by Euphoria costar Zendaya"