An Indonesian student who thought it was “funny” to sell his expressionless selfies as non-fungible tokens (NFTs) has made an astonishing US$1 million in sales.
Sultan Gustaf Al Ghozali, 22, spent five years taking blank-looking selfies in front of his computer, which he later converted into NFTs and uploaded to popular marketplace OpenSea in December 2021. According to Ghozali, he has made over US$1 million in sales after selling almost 1,000 of his selfies online.
What the NFT Market Will Bear
From 2017 to 2021, the computer science major snapped photos of his expressionless face while standing in front of his computer, all with the intention of compiling the photos to create a video time-lapse for his graduation day. Ghozali decided to upload his selfies in December to OpenSea under the title “Ghozali Everyday” and priced each NFT at US$3, without expecting interest from serious buyers. While monetising his expressionless images, Ghozali said in a tweet:
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.Sultan Gustaf Al Ghozali
A Story Behind Every NFT
After exceeding his wildest expectations, the student’s NFT offerings blew up further. On the back of their rising popularity, one of the NFTs sold for 0.247 ether on January 14, worth around US$806 at the time of purchase. Some of Ghozali’s selfie NFTs also sold for 0.9 ether, roughly US$3,000. According to his OpenSea profile, the collection subsequently reached a total trade volume of 317 ether, the equivalent of more than US$1 million.
To add rarity to his collection, the young entrepreneur also added a personal touch by providing a bit of background information along with his selfies. Ghozali has also since shared that he would not be listing any more selfies in the next few years.
Should you own a truly rare one of Ghozali’s NFTs, or any NFT for that matter, you can now display them in one of Netgear’s Meural digital frames, which have recently expanded their capabilities to include the display of NFTs.
Although most users on Twitter see the allure behind Ghozali’s initiative, some remain unconvinced of the endeavour:
Rare and Exclusive Keeps the NFT Business Afloat
Ghozali has managed to preserve the exclusivity and rarity in his collection by announcing he would not be releasing any more NFTs for a couple of years, and it appears to have only added to their popularity.
In another recent example of innovative NFT entrepreneurship, Gary Vaynerchuk, known to the NFT world as Gary Vee, has opened the world’s first “NFT Holders Members Only” restaurant – Flyfish Club. The new premier dining destination will only be accessible by owners of Flyfish NFT tokens, which have unsurprisingly already sold out.
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