In the last one year, several elements of the crypto space have witnessed a boom in adoption and one of these are digital collectibles called non-fungible tokens (NFTs). Sultan Gustaf Al Ghozali, a 22-year-old Indonesian college student has made the most of it, churning out over a million dollars by selling NFTs. The computer science student from Semarang, Indonesia, converted nearly 1,000 of his selfies taken over the course of five years into NFTs and sold them on OpenSea marketplace.
In a bid to be able to revisit his college days later, Ghozali had taken a rather expressionless selfies sitting or standing in front of his computer each day between the ages 18 and 22. He turned these images into NFTs and put them on OpenSea for sale, pricing each at $3 (roughly Rs. 222).
Ghozali's NFT collection reached a total trade volume of ETH 317 or $1,041,325 (roughly Rs. 7.73 crore), making him a millionaire overnight, a report by Lifestyle Asia said.
In a tweet, Ghozali urged people to refrain from abusing his pictures or else his “parents would be disappointed.”
“You can do anything like flipping or whatever but please don't abuse my photos or my parents will very disappointed in me. I believe in you guys so please take care of my photos,” he said.
At its peak, some of Ghozali's selfie NFTs sold for ETH 0.9, amounting to around $3,000 (roughly Rs. 2.22 lakh).
The youngster has also uploaded a video collage of his selfies on YouTube, take a look:
NFTs can be based on a wide range of items that may or not exist in real life, including sketches, paintings, and video games, among other things.
In the third quarter of 2021, NFT sales volume surged to $10.7 billion (roughly Rs. 79,820 crore), up by over eightfold from the previous quarter, according to data from market tracker DappRadar.
Surging sales and hefty prices on NFTs have baffled many but the multi-fold growth shows little or no depreciation whatsoever.
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