Non-fungible tokens (NFTs) have become increasingly popular over the last eight years, scoring big bucks for various sellers. Digital artist Mike Winkelmann pocketed a whopping $69.3 million from “EVERYDAYS: the First 5000 Days,” Forbes previously reported.
Many have followed suit due to the conventional uses of NFTs which allow individuals to obtain a physical copy of a digital asset. The ownership is protected by blockchains that maintain records of information being housed online.
The latest success story is 12-year-old Benyamin Ahmed, who released an NFT collection set to be valued at over $400,000 by the end of this month.
“I first learned about NFTs earlier this year,” Ahmed shared in a statement. “I got fascinated with NFTs because you can easily transfer the ownership of an NFT by the blockchain.”
Benyamin Ahmed Learns To Develop NFT Collection
Ahmed’s first collection was released early this summer, but did not gain traction from sellers. The collection still held value to the young coder as he became engulfed with knowledge and the help of online tutorials and mentors from Discord communities.
“I think memes have significant value in this space, as a lot of projects have some kind of meme-link to it. I think memes play a big part in this space,” Ahmed revealed in a press statement.
The Bright Future For NFT Collections
The successful collection was valued at $255,000 in its launch and has gained an additional $95,000 since. In combination with royalties, Ahmed has profited over $350,000 in revenue.
With that said, the future of NFTs seem to be in great hands.
“When people buy Weird Whales, they’re investing in me and my future,” Ahmed says. “If I carry on as I’ve been, I might end up like other tech entrepreneurs out there like Elon Musk and Jeff Bezos.”