The Young Indonesian Earns $1 Million by Selling NFT Selfies

An Indonesian college student has become a millionaire by selling NFT versions of his selfie in the OpenSea NFT market. A 22-year-old computer science student, Sultan Gustaf Al Ghozali, remade and sold nearly 1,000 selfies in the form of NFTs. According to Sultan, he took the photos for five years; – 18 to 22 years – to keep track of its graduation period.

Sultan’s selfies are taken while standing in front of a computer or sitting; Which was later converted to NFT and uploaded to OpenSea in December last year. The creator set $3 for the NFT selfie price; Without expecting interest from serious buyers. While monetizing his graphic images, the student noted that his pictures could be used in any activity; however, it also requested that users not abuse his photos. The parents are not left disappointed and heartbroken. Sultan says he trusts the audience and therefore believes that the request will be justified and the audience will take care of his photos.

Indonesian Journey with NFTs

Contrary to expectations, Gustaf’s NFT offering exploded; When prominent members of Crypto Twitter took the initiative to purchase and market their offers. With increasing popularity, one of Gustaf’s NFTs sold for 0.247 hours on January 14. Cost $806, according to AFP, at the time of purchase. The young entrepreneur also adds a touch of personalization to the selfies; By providing background information, which adds to the rarity of NFT.

At the peak, Gustaf’s selfie NFTs reportedly sold for 0.9 ETH; Worth about $3,000. Sultan’s collection subsequently reached a total trade volume of 317 ethers; That’s the equivalent of more than $1 million. The young artist has already managed to pay the first tax based on this income through OpenSea. Despite the recent not-so-noisy work of the crypto market; The blockchain gaming industry and the NFT market continue to record high volumes of transactions.

According to DappRadar, the number of UAWs affiliated with Ethereum NFT DApps increased by 43% in the third quarter of last year. In addition, money generated by NFT trading increased to $11.9 billion in 2022 over the ten days; From $10.7 billion.

January 2022 is still rough for crypto investors. Current markets are seeing turbulent fluctuations in the prices of BTC and other cryptocurrencies. On January 14, the cost of Bitcoin fell below $42,000; Traders continued to rely on growth signals.