A 22-year-old Indonesian man earns $1 million through the sale of NFT selfies on OpenSea
Ghozali spent five years photographing himself in front of his computer, which he eventually turned to NFTs and posted to OpenSea in December 2021.
According to reports, an Indonesian college student became a billionaire by selling nonfungible token (NFT) copies of his pictures on the OpenSea NFT marketplace.
Sultan Gustaf Al Ghozali, a 22-year-old Semarang, Indonesia-based computer science student, transformed and sold approximately 1,000 selfie photos into NFTs. Ghozali claims that he photographed himself for five years — between the ages of 18 and 22 — as a means to reflect on his graduation journey.
Ghozali took pictures while seated or standing in front of his computer, which were eventually converted to NFTs and posted to OpenSea in December 2021. The artist set the price of each NFT selfie at $3, assuming no real customers would show up. Ghozali said when marketing his expressionless images:
“You are free to use anything you want with my images, but just do not abuse them or my parents will be quite disappointed in me. I believe in you, therefore please look after my photographs.”
Against all odds, Ghozali’s NFT offering exploded in popularity as notable members of Crypto Twitter demonstrated their support by acquiring and publicising the offers.
Due to the increasing popularity, one of Ghozali’s NFT sold for 0.247 Ether (ETH) on Jan 14, according to AFP. Additionally, the young entrepreneur adds a touch of individuality by including some background information with the selfies, adding to the NFT’s uniqueness.
According to a report from Lifestyle Asia, Ghozali’s selfie NFTs sold for 0.9 ETH, or nearly $3,000, at their peak. Ghozali’s collection has since amassed a total transaction volume of 317 ether, which is moreover $1 million in value. Additionally, the young artist made his first tax payment on this money through OpenSea.
Despite the general crypto market’s recent poor performance, the NFT marketplace and blockchain gaming business continue to see significant transaction volumes.
According to Cointelegraph, DappRadar data indicates that the number of UAW connected to Ethereum NFT DApps has increased by 43% from Q3 2021. Additionally, NFT trading revenues increased from $10.7 billion in Q3 2021 to $11.9 billion in the first ten days of 2022.