A student in Indonesia made a fortune by converting a selfie collection into non-fungible tokens. Numerical non-fungible tokens (NFTs) are god-like digital assurances of authenticity. They ensure the originality and ownership of online work by using the blockchain, a permanent digital record of data. This new frontier has made Sultan Gustaf Al Ghozali wealthy.
The NFT market is increasing (it was valued 10.7 billion dollars in Q3 2021) and looks to offer artists a more steady income. With the use of a blockchain, Sultan Gustaf Al Ghozali, a computer science student, took around 1,000 images of himself working at his computer over four years.
The 22-year-old originally priced each of his solo shots at 0.00001 ETH (about $3), but after luring the high-risk cryptocurrency speculators, the individual images now sell for almost $10,000.
I can’t believe folks bought my NFT picture, I sold 35 in one day.
On the same day, he sold over 200 NFT selfies, with traders collecting hundreds more on the OpenSea platform. It would be amusing if one of the collectors took my face. Ghozali.
“I never believed someone would want to buy the selfies, so I only priced them at $3.” His selfies are currently selling for up to 4 ETH ($ 12,500), and his complete collection, Ghozali every day, is valued at roughly 374 ETH ($ 1.2 million).
But he confessed: “Again, I didn’t tell my parents about it. I doubt they’ll immediately understand how I made all this money.”
Get started with as little as $10.