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

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An Indonesian school scholar has reportedly change 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 scholar from Semarang, Indonesia, transformed and offered practically 1,000 selfie photographs as NFTs. According to Ghozali, he took photographs of himself for 5 years — between the ages of 18 and 22 — as a solution 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 value for every NFT selfie at $3 with out anticipating curiosity from severe patrons. Whereas monetizing his expressionless photographs, 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 upset in me. I consider in you guys so please deal with my photographs.”

Ghozali’s OpenSea profile. Supply: OpenSea.

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

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

At its peak, Ghozali’s selfie NFTs offered for 0.9 ETH, price roughly $3,000, in accordance with a Way of life 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 idea of this revenue via OpenSea.

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

Regardless of the latest 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.