1NEWS, A 12-year-old boy from London, England, has earned around £290,000 during the school holidays. The reason is, he used that free time to create a pixelated artwork called Weird Whales (Strange Whale) and sell it in the form of non-fungible tokens (NFT).
With NFT, artwork can be ‘tokenized’ by creating digital certificates of ownership that can be bought and sold. However, these buyers are generally not given the actual artwork or copyright.
Reporting from the BBC, Benjamin Ahmed saves his income in the form of Ethereum, a cryptocurrency for buying and selling his work. This means that its value can fluctuate and there is no support from the authorities if the digital wallet where it is stored is hacked or compromised.
Benjamin himself never had a regular bank account.
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Benjamin’s classmates don’t yet know his newly discovered crypto wealth. In fact, he has made a YouTube video about his hobby.
“My advice to other kids who might want to get into this field, don’t force yourself to do it coding because of peer pressure. If you like to cook, cook. If you like dancing, dance. Just do it to the best of your ability.”
Benjamin’s father, Imran, is a software developer working in traditional banking. He also encouraged Benjamin and his younger brother, Yousef, to start coding at the ages of 5 and 6 years.
Of course, those kids benefit from a strong network of tech experts if they need advice and help. Even so, Imran is still proud of them.