There is much buzz around an Indonesian college student, Ghozali Ghozalu (in other articles, Sultan Gustaf Al Ghozali), 22, who became a millionaire because of his unique approach on creating his NFT collection of his selfies through OpenSea.
Originally, Ghozali intended to document his selfies since 2017 as he awaited his college graduation, but when he learned about blockchain technology, he tested the waters by uploading them and selling each photo for around $3. Soon after, Chef Arnold Poernomo, an Indonesian celebrity chef, stumbled on his OpenSea profile and bought some to help the student with his studies. He, together with some other celebrities, partly shilled about it and history was made.
Can we really upload our own pictures and become millionaires? What is an NFT anyway?
NFT stands for non-fungible token. It is a one of a kind item that can be sold and traded online using the blockchain technology. Just like when you trade basketball cards, certain cards are rare and highly valuable because of their uniqueness while some are sold at cheaper prices due to being common and easily obtained
NFT’s are not just selfies. Digital artists also upload digital photography and art (both static dynamic artwork is welcome) on platforms like OpenSea, Rarible, and objkt.com. Musicians and solo artists are selling their albums through a blockchain-based streaming platform called Audius. Even spoken poetries is sold online. Virtual real estates and blockchain NFT games are part of the group, too!
There are rising Filipino artists, like Titik Poetry who creates spoken poetry, Bern uses photography to raise funds to support rescued dogs and cats, and others that are featured previously by BitPinas, who are selling their masterpieces online. Groups like Crypto Art PH and NFT Philippines are formed to educate the masses on NFTs and cater to those who are interested in creating their own. Basically, each community is created to uplift one another.
Again, if you want to mint your own collection of selfies, like what Ghozali did, be ready for the repercussions of doing so. For example, your buyers, what are they going to use the selfie for? Can they use it for things you don’t intend those selfies to be used for?
February has been declared as the National Art Month. Our artists commemorate this month by showcasing their hard work online and may we, as Filipinos, support our own artists by showing our appreciation and purchasing their NFT.
For more about NFTs and how to mint and flip your first NFT, click on this BitPinas article.
This article is published on BitPinas: NFT FAQ: Can I Upload My Selfie as an NFT?