Indonesian college student Sultan Gustaf Al Ghozali, who made $1 million in 2022 by selling non-fungible tokens (NFTs) of everyday selfies, has resurfaced with a new venture. This time, he raised $1.8 million in a memecoin presale, marking his return to the cryptocurrency spotlight.
Gozari daily projects
In January 2022, Ghozali received widespread attention for minting an NFT featuring five years of his daily selfies. The series, called “Ghozali Everyday,” received huge support from the cryptocurrency community, allowing Ghozali to earn over $1 million while still a student.
After graduating from college in 2023, Ghozali announced on social media platform X that she would no longer take selfies, reflecting on her extraordinary success. However, he has recently re-emerged amid growing interest in memecoins, launching a second iteration of his project – a hybrid memecoin and NFT project based on the Base blockchain.
The last selfie I took when I graduated from college, finally I could stop doing this almost every day
Taking selfies every day for six years was the dumbest idea I’ve ever had, but luckily I was able to make money from it pic.twitter.com/qftRH6WRua
— Ghozali (@Ghozali_Ghozalu) August 24, 2023
The pre-sale for Ghozali’s new project quickly exceeded the initial cap of 400 ETH, reaching 527 ETH, equivalent to $1.8 million. Notably, Ghozali promised to return any excess ETH once the cap is reached, demonstrating ethical behavior in his fundraising efforts.
Memecoin’s recovery and market trends
Amid Bitcoin’s bullish trend, there has been a resurgence of interest in memecoins, especially within the Solana network. Solana-based presale projects have attracted significant capital inflows, reflecting what some have called a “peak fall” period in the cryptocurrency space.
Coinbase’s layer 2 network Base has also received increased attention, with its total value locked (TVL) doubling as investors focus on the memecoin venture capital platform. Observers speculate that Base could become the next center of memecoin activity following the surge of Solana, potentially driving the network’s rapid growth.
While meme coins continue to attract investor interest and offer the possibility of quick returns, some industry experts remain cautious. Asset management firm Franklin Templeton has warned investors of the speculative nature of meme-based tokens, stressing that they lack intrinsic value or utility despite their potential for short-term gains.
final thoughts
Sultan Gustaf Al Ghozali’s journey from NFT selfie to memecoin highlights the changing landscape of the cryptocurrency market. In this new phase of his entrepreneurial endeavors, Ghozali’s story highlights the importance of ethical behavior and awareness of market dynamics in the cryptocurrency space.
