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

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An Indonesian school scholar has reportedly grow to be 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 bought almost 1,000 selfie photographs as NFTs. According to Ghozali, he took images 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 photographs, Ghozali said:

“You are able to do something like flipping or no matter however please do not abuse my images or my dad and mom will very upset in me. I imagine in you guys so please deal with my images.”

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 help by buying and advertising the choices.

With the rising recognition, considered one of Ghozali’s NFT bought for 0.247 Ether (ETH) on Jan 14. value $806 on the time of buy, in line 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, value roughly $3,000, in line 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 idea of this earnings 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 file excessive transaction volumes.

As Cointelegraph reported, DappRadar information exhibits that the variety of UAW related 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.