Selfie Becomes NFT, Ghozali Profits Thousands of Dollars! How did that happen?

Indonesia and the world are made crowded by one of the Non Fungible Token or NFT projects.

This NFT managed to sell up to millions of rupiah and has a transaction volume of up to 289 Ethereum or about $ 104,373.

The spread of this news makes many Indonesians surprised and interested in wanting to do the same.

But unfortunately, there are still many individuals who do not know what Ghozali actually did to make thousands of dollars from NFT.

Understanding the Phenomenon of NFT Ghozali Everyday

Ghozali is an individual from Indonesia who managed to sell his NFT collection at a fairly high price.

He created a collection called Ghozali Everyday that contains a selfie or personal photo for five years in a row.

The photo was taken from 2017 to 2021 in the same style that itself is in front of the computer. Ghozali stated in the description of his collection that,

"It's really a photo of me standing in front of a computer day after day."

In the collection, there are 933 NFT in the form of personal photos with relatively the same facial look.

There are currently about 442 NFT's sold and have changed hands from first-time buyer to other buyer.

When first sold, the NFT has a price of 0.001 Ethereum or about $ 3.34 and currently the most expensive NFT has been sold for 2 Ethereum or $ 6,691.75.

Considering this work is NFT, the price is currently sold differently where the cheapest price is around 0.33 Ethereum or $1,104.11.

Many are predicting how this NFT could go viral in just a few days.

But there is speculation that the viral NFT is due to interest from one of indonesia's influencers who then spread it through social media.

Through this sale, Ghozali has managed to make more than a hundred thousand dollars because even though it only sold for 0.001 Ethereum, he installed royalty.

Royalties or percentage fees are income earned through a small percentage when NFT Ghozali changes hands from the initial buyer to another buyer.

When viewed from Ghozali's OpenSea account wallet with an address 0xc1e05e98466908547f30fcfc34e405b9c84dfcb7 he managed to make about $ 104,373 and continue to move up.

Please note that Ghozali uses Polygon network. So it did not pay a gas fee or NFT issuance fee but was cut by 2.5% by OpenSea at the time of the initial sale.

How to Make Money Through NFT

Seeing this success, many Indonesians are interested and do the same thing, namely selling NFT with a personal face photo.

Despite the risks of personal identity, it seems that this phenomenon has exploded and increased due to many who began to do the same at OpenSea.

But unfortunately there are still many parties who also do not know what exactly NFT and how to sell it.

In short, NFT itself is a Non Fungible Token which is a token to record the authenticity of a thing.

The goal is to maintain the clarity of ownership of such goods because all are recorded on the blockchain that cannot be manipulated.

The difference between NFT and regular crypto is commensurate, i.e. one NFT is not the same as one NFT but one crypto like Bitcoin equals one other Bitcoin in value.

To create it, individuals are obliged to use an exchange or marketplace to publish and then sell it.

Generally an individual uses Amazon to sell his goods and upload photos of his goods.

NFT is also almost similar where individuals have to print their photos in the minting process and then sell them like in OpenSea.

This process generally costs money, but as Ghozali does, NFT can be issued and sold for free using the Polygon Blockchain.

Then to sell it in order to sell, the promotion process needs to be done and in general currently NFT sold is NFT in the form of collections, not units.