Indonesian NFT 'selfie guy' makes $1.8M in memecoin comeback - Exploring the Intersection of NFTs and Web 3.0
Indonesian NFT 'selfie guy' makes $1.8M in memecoin comeback

The Rise of NFTs and Memecoins in Web 3.0: How One Indonesian Student Made Millions

In 2022, a college student from Indonesia made headlines when he earned a million dollars by selling nonfungible tokens (NFTs) of his selfies. Now, in 2023, he has made a comeback, raising $1.8 million in a memecoin presale.

The Power of NFTs in Web 3.0

Back in 2022, Sultan Gustaf Al Ghozali created a collection of NFTs called “Ghozali Everyday,” featuring daily selfies he took over the course of five years. This project gained support from the crypto community and earned Ghozali over $1 million while he was still a student.

But as Ghozali graduated from college in 2023, he announced on X that he would stop taking selfies, grateful for the success of his “stupidest idea.” However, he recently resurfaced on X, riding the wave of interest in memecoins.

The Evolution of Web 3.0: NFTs and Memecoins

On March 24, Ghozali revealed his latest project, a hybrid of memecoins and NFTs on the Base blockchain. This is just one example of how web 3.0 is transforming the world of finance, with concepts like decentralized finance (DeFi), NFTs, and DAOs gaining traction.

As the line between the digital and physical worlds continues to blur, NFTs and memecoins are becoming more and more prevalent in the web 3.0 landscape. And with the rise of blockchain technology, it’s clear that web 3.0 is here to stay.

Web 3.0 and NFTs: The Rise of Memecoins on Solana

Ever since its launch, Ghozali’s presale has exceeded its 400 ETH limit, currently sitting at 527 ETH, equivalent to $1.8 million. However, in light of this success, Ghozali has promised to return any additional ETH sent after the cap was reached.

The recent surge in Bitcoin’s value has reignited interest in memecoins, particularly among Solana traders. In fact, data shows that Solana-based presale projects have raised a staggering $100 million in just three days from March 15 to 18.

Community members have labeled this frenzy as “peak degeneracy,” with users blindly sending SOL tokens to founders announcing “presales” without any guarantee of receiving tokens in return.

As the metaverse and NFTs continue to gain traction, many are questioning whether web 3.0 is truly the future of blockchain technology. With the rise of decentralized finance, NFTs, and DAOs, it’s becoming increasingly clear that web 3.0 is shaping up to be a game-changer in the world of digital assets.

Web 3.0 and NFTs: The Next Frontier for Memecoins

The rise of the Solana network has not only attracted investors, but it has also sparked a surge in the total value locked (TVL) in Coinbase’s layer-2 network, Base. With a TVL of $2.13 billion as of March 23, Base is being touted as the next epicenter for memecoins.

But as the hype around Solana’s meme season dies down, attention may shift to Base and its potential for wild runs in the layer-2 network. This is all part of the larger trend of web 3.0 and its impact on the world of cryptocurrencies.

However, not everyone is convinced of the value of memecoins. In a recent investor note, asset manager Franklin Templeton cautioned against investing in tokens with no inherent value or utility. Despite this, they acknowledged the potential for quick gains from meme-based tokens.

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