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

January 16, 2022No Comments

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

Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, converted and sold nearly 1,000 selfie images as NFTs. According for Ghozali, he took photos of himself for five years, between the ages of 18 and 22, as a way to remember his graduation trip.

Ghozali's selfies were taken sitting or standing in front of his computer, which was then converted to NFTs and uploaded to Open sea in December 2021. The artist priced each NFT selfie at $3 without expecting interest from serious buyers. While monetizing his deadpan images, Ghozali saying:

โ€œYou can do anything like flipping or whatever, but please don't abuse my photos or my parents will be very disappointed in me. I believe in you, so please take care of my photos.โ€

Ghozali's OpenSea profile. Fountain: Open sea.

Contrary to his wildest expectations, Ghozali's NFT offering blew up as prominent members of Crypto Twitter showed their support by buying and trading the offerings.

With the growing popularity, one of Ghozali's NFTs sold for 0.247 Ether (ETH) on January 14. worth $806 at time of purchase, according to AFP. The young entrepreneur also adds a touch of personalization by providing background information along with the selfies, adding to the NFT's weirdness.

At its peak, Ghozali's NFT selfies sold for 0.9 ETH, worth around $3,000, according to Lifestyle Asia. report. Subsequently, Ghozali's collection reached a total trading volume of 317 ether, equivalent to more than $1 million. The young artist also made his first tax payment based on this income through OpenSea.

Related: NFT and Blockchain Gaming Sales Continue to Grow Despite Recent Market Downturn: Report

Despite the recent slow performance of the crypto market in general, the NFT market and the blockchain gaming industry continue to see high transaction volumes.

As Cointelegraph reported, data from DappRadar shows that the number of UAWs connected to Ethereum NFT DApps grew 43% from Q3 2021. Additionally, money generated from NFT trading passed $10.7 billion in the third quarter of 2021 to $11.9 billion in the first ten days of 2022.