Ever thought a 12-year-old kid cannot make more money than a young mind can ever fathom? Well, Benyamin Ahmed is about to prove you wrong.
Benyamin Ahmed is a 12-year-old boy from a suburb in London who was able to make over $160,000 by selling an NFT collection. The NFT collection takes inspiration from an 8-bit stock image of a blue whale.
How is that possible?
What is NFT Exactly Anyway?
Some of you must be thinking, "Wait, wait. Hold up just one moment. What is an NFT anyway?" Good question.
NFT is an acronym that stands for non-fungible token. That might have raised another question, specifically one along the lines of what non-fungible means.
According to The Verge, something is considered non-fungible if "it's unique and can't be replaced with something else." The article cites a one-of-a-kind trading card as an example. Trade it with a different card and you end up with something else.
So how is it similar to cryptocurrency? "It's generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that's where the similarity ends," according to Forbes.
How so? Cryptocurrencies are fungible, meaning a Bitcoin can be traded for another Bitcoin. NFTs, however, are linked to Ethereum in the sense that the Ethereum blockchain supports NFTs.
NFT and Digital Art
The Verge report points out that NFTs can be "anything digital," including drawings and music. Per Forbes, NFTs can be minted from digital objects such as collectibles, GIFs, video game skins, and even designer sneakers.
Even a tweet can be an NFT, as shown by Twitter CEO Jack Dorsey selling the first tweet ever as an NFT.
These days, however, a lot of the excitement involving NFTs revolves around "using the tech to sell digital art."
12-Year-Old Benyamin Ahmed's Weird Whales NFT Collection
That brings us back from the 12-year-old Londoner Benyamin Ahmed, who made over $160,000 by selling an NFT collection.
According to Decrypt, young Benyamin's interest in NFTs began when the 12-year-old thought "it was cool as an online flex." He eventually developed a respect for digital-first art style NFT collections such as CryptoPunks and Bored Ape Yacht Club.
Benyamin Ahmed's newfound respect for these NFT collections inspired him to make one of his own.
The 12-year-old's NFT collection has been named Weird Whales, which Decrypt describes as "a set of pixelated whale icons inspired by a stock image."
Each Weird Whale image has its own distinctive traits that can make it rarer and more valuable than the others in the collection. Decrypt cites the 120th image in the collection, which sold for $6,000.
That image has also been ranked as the eighth rarest Weird Whale NFT out of a total of 3,350 available, according to the report by Decrypt.
This article is owned by Tech Times
Written by Isabella James