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

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An Indonesian faculty 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 pc science scholar from Semarang, Indonesia, transformed and bought practically 1,000 selfie photographs as NFTs. According to Ghozali, he took pictures of himself for 5 years — between the ages of 18 and 22 — as a approach to look again on his commencement journey.

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Ghozali selfies have been taken sitting or standing in entrance of his pc, 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 critical 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 pictures or my mother and father will very dissatisfied in me. I consider in you guys so please maintain my pictures.”

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 and marketing the choices.

With the rising reputation, considered one of Ghozali’s NFT bought for 0.247 Ether (ETH) on Jan 14. price $806 on the time of buy, based on 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, based on 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 cost on the premise 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 trade continues to report excessive transaction volumes.

As Cointelegraph reported, DappRadar knowledge 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.