How Gustaf Al Ghozali, 22, Made $1M By Selling NFT Selfies On OpenSea

Gustaf Al Ghozali an Indonesian college student made a million dollars by selling nonfungible token (NFT) versions of his selfies on the OpenSea NFT marketplace.

Sultan Gustaf Al Ghozali, a 22-year-old Indonesian computer science student, converted and sold nearly 1,000 selfie images as NFTs.

Ghozali claims he took photos of himself for five years — between the ages of 18 and 22 — as a way to reflect on his graduation journey.

Ghozali’s selfies were taken while seated or standing in front of his computer, and were later converted into NFTs and uploaded to OpenSea in December 2021.

The artist set the price for each NFT selfie at $3, not expecting serious buyers. Ghozali stated while monetizing his expressionless images:

“You can do whatever you want with my photos, such as flipping or whatever, but please don’t abuse them or my parents will be very disappointed in me.” I have faith in you, so please take care of my photos.”

The OpenSea profile of Ghozali. OpenSea is the source.

Ghozali’s NFT offering blew up, contrary to his wildest expectations, as prominent members of Crypto Twitter showed support by purchasing and marketing the offerings.

According to reports monitored by Iexclusivenews on AFP, one of Ghozali’s NFT sold for 0.247 Ether (ETH) on January 14, worth $806 at the time of purchase.

The young entrepreneur also adds a touch of personalization by including some background information alongside the selfies, adding to the NFT’s rarity.

According to a Lifestyle Asia report, Ghozali’s selfie NFTs sold for 0.9 ETH, or about $3,000, at their peak.

Ghozali’s collection eventually reached a total trade volume of 317 ether, which is worth more than $1 million.

Through OpenSea, the young artist also made his first tax payment based on this income.

Despite the overall crypto market’s recent sluggish performance, the NFT marketplace and blockchain gaming industry continue to record high transaction volumes.

According to DappRadar data, the number of UAW connected to Ethereum NFT DApps has increased by 43 percent since Q3 2021.

Furthermore, the money generated by NFT trading increased from $10.7 billion in the third quarter of 2021 to $11.9 billion in the first ten days of 2022.