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Indonesian makes $1M out of selling NFT series on OpenSea

Opensea indonesia-bali-ulun-danu-bratan-lake.jpg
Opensea indonesia-bali-ulun-danu-bratan-lake.jpg

The non-fungible token (NFT) sector is still booming despite the sluggish performance of cryptocurrencies this month. A 22-year old Indonesia student is the latest to make major returns from the NFT space. Sultan Gustaf Al Ghozali, a student in Computer Science, has made over $1M after selling his selfies as NFTs on OpenSea.

Ghozali sells selfies for $1M

Ghozali stated that he took selfies images of himself over the past five years. The images are of him aged between 18 and 22. Ghozali converted these images into NFTs, and he has sold around 1000 of them on the OpenSea NFT marketplace.

The student took these selfies sitting or standing in front of his computer. The images were uploaded on Opensea in December 2021. Since then, they have attracted support from many crypto community members, and their prices have surged in return.

When Ghozali first listed these images, they traded at around $3 for each NFT selfie. However, they have since appreciated in value due to demand, with one even selling for as high as $3000.

“You 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 guys, so please take care of my photos,” Ghozali said.

Ghozali has also been adding a personal touch to the selfies to ensure each of them is rare. Each selfies comes with additional information, to which he stated, “Each NFT photo I take has a story behind.”

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Ghozali’s NFT selfies become a major hit

Ghozali’s NFTs have become a major hit, given that they have received recognition from some of the popular members of the crypto community. These members have either purchased or promoted the NFT offerings amplifying the market interest.

AFP notes that on January 14, one of the NFTs sold for 0.247 ETH, valued at around $800 at the time it was bought. Another report from Lifestyle Asia states that another of Ghozali’s NFTs sold for 0.9 ETH, valued at around $3000.

The total trading volumes for Ghozali’s NFT collection currency stands at 317 Ether tokens valued at over $1 million. Following the major earnings he has received from OpenSea, Ghozali has made a tax payment, which he stated was the first time he had ever paid tax.

As aforementioned, the NFT sector has been booming. During the first ten days of 2022, NFT revenues reached $11.9 billion. This is a notable milestone, given that the revenues generated during Q3 2021 stood at $10.7 billion.

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