22-year-old Indonesian boy makes $1M by selling NFT selfies on OpenSea

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An Indonesian school pupil has reportedly turn into a millionaire by promoting nonfungible token (NFT) variations of his selfies on the OpenSea NFT market.

Sultan Gustaf Al Ghozali, a 22-year-old laptop science pupil from Semarang, Indonesia, transformed and bought almost 1,000 selfie pictures as NFTs. According to Ghozali, he took photographs of himself for 5 years — between the ages of 18 and 22 — as a approach to look again on his commencement journey.

Ghozali selfies had been taken sitting or standing in entrance of his laptop, which was later transformed into NFTs and uploaded to OpenSea in December 2021. The artist set the worth for every NFT selfie at $3 with out anticipating curiosity from severe patrons. Whereas monetizing his expressionless pictures, Ghozali said:

“You are able to do something like flipping or no matter however please do not abuse my photographs or my mother and father will very disillusioned in me. I consider in you guys so please care for my photographs.”

Ghozali’s OpenSea profile. Supply: OpenSea.

Going in opposition to his wildest expectations, Ghozali’s NFT providing blew up as outstanding members of Crypto Twitter confirmed assist by buying and advertising and marketing the choices.

With the rising recognition, one in all Ghozali’s NFT bought for 0.247 Ether (ETH) on Jan 14. price $806 on the time of buy, in keeping with AFP. The younger entrepreneur additionally provides a contact of personalization by offering some background data together with the selfies, which provides to the rarity of the NFT.

At its peak, Ghozali’s selfie NFTs bought for 0.9 ETH, price roughly $3,000, in keeping with a Life-style Asia report. Ghozali’s assortment subsequently reached a complete commerce quantity of 317 ether, equal to greater than $1 million. The younger artist additionally made his first tax fee on the premise of this revenue by OpenSea.

Associated: NFT sales and blockchain games continue to grow despite the recent market slump: Report

Regardless of the current sluggish efficiency of the general crypto market, the NFT market and blockchain gaming business continues to report excessive transaction volumes.

As Cointelegraph reported, DappRadar information exhibits that the variety of UAW linked to Ethereum NFT DApps grew by 43% since Q3 2021. As well as, the cash generated by NFT buying and selling went from $10.7 billion in Q3 2021 to $11.9 billion within the first ten days of 2022.