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stormfire

Member
Nov 26, 2018
2,850
A 22-year-old Indonesian university student named Sultan Gustaf Al Ghozali has made a fortune selling almost 1,000 selfies of himself as non-fungible tokens, or NFTs, on the NFT marketplace OpenSea.

The computer science student from Semarang, Indonesia originally took the selfies to document his university life during a five-year period, visually chronicling the awkward years from age 18 to 22.Priced at $3 apiece, the NFTs were never expected to be money-makers or to generate outside commercial interest. In most of the selfies, Ghozali stands or sits in front of his computer, his countenance barely changing from one day to the next. However, in December 2021, he decided to convert all of these selfies into NFTs and uploaded them on OpenSea, increasing their value by personalizing some with helpful contextual information or important biographical information.
To his own surprise, Ghozali became an unexpected millionaire from the auction of his NFTs, the sale of which was prefaced with a warning not to tamper with his photos, lest his parents express disapproval: "You can do anything — like flipping, or whatever — but please don't abuse my photos, or my parents will very disappointed in me. I believe in you guys, so please take care of my photos," he wrote.

The crypto community rallied around his NFTs on Twitter and marketed it to the point where they reached stratospheric heights, including a total trade volume of 317 ETH (Ether), or more than $1 million. The OpenSea profits led to the young entrepreneur paying his first tax payment of his life:

www.thestreet.com

Indonesian Student Earns $1 Million By Selling NFT Selfies on OpenSea

The computer science student never expected to get this rich.
 

The Bookerman

Banned
Oct 25, 2017
4,124
Stories like this are as useful as me getting an email from a nigerian prince that needs my help to unlock his money.
 

boontobias

Avenger
Apr 14, 2018
9,550
Now that we own his selfies we can produce a tv show or movie about his life story possibly animated potentially for a streaming service
 

Deleted member 36578

Dec 21, 2017
26,561
This is definitely one of those bullshit things that makes people want to join in. Don't fall for it.
 

Panquequera

Member
Feb 8, 2021
1,201
Someone on here put this as an example of nfts being good for artists. It's so silly to think this can ever be the norm
 

Jedi2016

Member
Oct 27, 2017
15,743
I'm honestly tempted to take a picture of my cat and put it up for like 50k and see what happens.
 

Sunster

The Fallen
Oct 5, 2018
10,025
Now I'm absolutely certain that someone will purchase my bored ape for at least $20,000!
 

BlinkBlank

Member
Oct 27, 2017
1,226
Is it just me, but I still do not understand NFTs? Like you are buying pictures of memes and stuff that can easily be recreated, but pay a ton of money for it?

Like I understand paintings, but buying an original .gif or something doesn't make any sense.

Like are people buying them and licensing them or something else as to why anyone would pay thousands of dollars for these? I feel like I am missing a key aspect.
 
Oct 27, 2017
1,147
Finland
Is it just me, but I still do not understand NFTs? Like you are buying pictures of memes and stuff that can easily be recreated, but pay a ton of money for it?

Like I understand paintings, but buying an original .gif or something doesn't make any sense.

Like are people buying them and licensing them or something else as to why anyone would pay thousands of dollars for these? I feel like I am missing a key aspect.
You're not even buying the picture. You're just buying a receipt that has a link to the picture (or whatever it points to, can be anything). The picture itself could be changed, the link remains the same.

And no it doesn't make any sense.
 

Chikor

Banned
Oct 26, 2017
14,239
I'm honestly tempted to take a picture of my cat and put it up for like 50k and see what happens.
It cost money to mint NFT and it cost money to sell them.
Which is why you see so many NFT fans being so zealous in endlessly defending this nonsense at all costs - almost all of them are in the red and sunk cost fallacy is a real and strong thing.
 

bangai-o

Member
Oct 27, 2017
9,527
Can't we just go to deviantArt and pay someone there to draw pictures for us? Is that not a thing anymore?
 

Pirateluigi

Member
Oct 27, 2017
6,879
It cost money to mint NFT and it cost money to sell them.
Which is why you see so many NFT fans being so zealous in endlessly defending this nonsense at all costs - almost all of them are in the red and sunk cost fallacy is a real and strong thing.

That plus some good old fashioned greed and FOMO
 

Chikor

Banned
Oct 26, 2017
14,239
Can't we just go to deviantArt and pay someone there to draw pictures for us? Is that not a thing anymore?
Rich people haven't figured out how to make money without working out of buying art on deviantArt, so we had to improve on that.

It also wasn't really burning the amazon rainforest, and what's the point of buying art if it's not destroying the planet in the process?
 

Arex

Member
Oct 27, 2017
12,513
Indonesia
I also would like to know if this is verified by an actual news agency and not a website that focuses entirely on crypto and the "metaverse".
Yes it is, he's all over the news in here locally. Also the third tweet in the OP is him quoting Indonesian tax authority asking him to register his new riches hah.

A lot of Indonesians started spamming open sea with selfies and random photos I heard lol.
 

JaseC64

Enlightened
Banned
Oct 25, 2017
11,008
Strong Island NY
Wow you don't have to put any effort and be a millionair!

Those YT,Twitch streamers and unfluencers are doing it wrong! (Also us for sitting on our asses not doing this!!)
 
Oct 27, 2017
21,545
And what did he do with the profit? He gave it all to sex workers, orphans and little old ladies who need help crossing the street.