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

An Indonesian university student has reportedly become a millionaire by selling a non-fungible token (NFT) version of his selfie on the OpenSea NFT marketplace.

Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, converted nearly 1,000 selfie images into NFTs and sold them. according to For Ghozali, he looks back on his graduation journey by photographing himself for five years between the ages of 18 and 22.

Ghozali selfie sitting or standing in front of his computer, later converted to NFT and uploaded to open sea December 2021. The artist priced each NFT selfie at $3, not expecting serious buyers to be interested. While monetizing his expressionless images, Ghozali Say:

“You can do anything like flip or whatever, but please don’t misuse my photos or my parents will be very disappointed in me. I trust you so please take care of my photos.”

Ghozali’s OpenSea profile. source: open sea.

Contrary to his wildest expectations, Ghozali’s NFT offerings exploded as prominent members of Crypto Twitter showed their support by buying and marketing them.

As popularity rose, one of Ghozali’s NFTs was sold for 0.247 ETH (Ethereum) January 14.Reportedly worth $806 at the time of purchase AFP. The young entrepreneur also adds a little personalization by providing some background information as well as a selfie, which adds to the rarity of the NFT.

At its peak, Ghozali’s selfie NFTs sold for 0.9 ETH, worth about $3,000, according to Lifestyle Asia. Report. Ghozali’s collection subsequently reached a total transaction volume of 317 ETH, which is equivalent to over $1 million. The young artist also paid his first tax through OpenSea on this income.

related: NFT sales and blockchain gaming continue to grow despite recent market downturn: report

Despite the recent sluggish performance of the overall crypto market, transaction volumes in the NFT market and the blockchain gaming industry continue to hit record highs.

As Cointelegraph reported, DappRadar data shows that the number of UAWs connected to Ethereum NFT DApps has grown by 43% since the third quarter of 2021. Additionally, funds generated from NFT transactions increased from $10.7 billion in the third quarter of 2021 to $11.9 billion in the first ten days. 2022.