Non-fungible Token or NFT craze is still going strong with people making money by selling the digital ownerships. A 12-Years old boy has made £290K by selling NFTs of Whale.
Benyamin Ahmed, the Son of a software engineer, has been into coding since he was little. He built his own collection of pixelated whales and sold their digital ownership. He has all his wealth in Ethereum currency. The price of Ethereum can rise or fall quickly as crypto markets are unpredictable. Nevertheless, Benyamin intends to keep his asset in digital currencies rather than converting it into fiat currencies.
Benyamin’s father was extremely proud of his son’s achievement. He taught his both sons coding at the age of five and six. The boys picked it up real quick and now do coding everyday.
Also Read: NFT Art: A Beginner’s Guide in 2021
Many people still try to wrap their heads around the concept of NFTs. The idea of buying or selling something without any physical existence doesn’t sit well with the traditionalists. However, the market is still booming with people purchasing ownership of digital art collections for unimaginably high prices.
Benyamin created Minecraft-Inspired NFTs at start and later started generated meme based Whale images. He sold 3,350 set of whale emojis to make £290K. The boy never had any bank accounts but holds a digital wallet at the age of 12.
The boy’s father is certain that no copyrights laws were broken by his son. He has also involved a lawyer who could audit the work of his son.
The future of NFTs is still uncertain. Nonetheless, it has given a side channel for revenue generation to the Artists. The long term prospects of NFTs are not yet clear. But, the concept of digital ownership has rather shaken the world of traditional finance.