The 12-year-old boy mastered the NFT "wealth code" and made a net profit of 290,000 pounds from the sale of encrypted tokens!

Recently, a 12-year-old boy in the UK used NFT blockchain technology to create a pixel-encrypted map of the "weird whale" and sold it for 110 ether, earning about 290,000 pounds.

A 12-year-old boy mastered the NFT "wealth code" and made a net profit of 290,000 pounds

The 12-year-old boy named Benyamin Ahmed (Benyamin Ahmed), his series of pixelated artworks called "weird whales" quickly became popular during the summer vacation.

It is reported that before this, Benjamin had already realized the "wealth password" related to NFT, and learned to write codes through this technology, and made a lot of videos to upload to YouTube.

Benjamin said that "Pixel Whale" was inspired by the popular pixel style in recent years. With inspiration, he began to write his own program, and the whole process took 3 months. "This is not an easy task. I can't learn to code in just a few days. Therefore, I practice coding every day, including this summer vacation." Benjamin said.

"The reason why people associate my story is because I am too young." Benjamin explained that many people saw his story and connected him to token technology, feeling that it was a breeze. But this is not the case.

According to reports, because Benjamin’s father Imran was a software developer, when Benjamin and his brother Yousef were 5 or 6 years old, his father Imran began to teach them to write The code has laid a good foundation for Benjamin's "achievements" today.

Father Imran described this artwork of Benjamin as cards similar to "digital Pokémon" and said that they were a great success because collectors realized their historical significance. He said that he knew that Benjamin had been involved with coding very early and was already ranked in the top 6% on a platform called Codewars (an educational community used by hundreds of thousands of people).

At present, because Benjamin has not opened his own bank account, the money is stored in his encrypted account. Industry insiders analyzed that the money in the encrypted account may have "uncontrollable risks" in the future, such as the value will rise or fall, and it may be attacked by hackers.

The NFT field of blockchain technology in "Pixel Whale"

NFT non-homogeneous tokens are not essentially a currency, but a "technology".

NFT (Non-FungibleToken, non-homogeneous digital equity certificate), with the support of blockchain technology, can be used as a certificate of on-chain rights for digital goods such as digital art and event tickets.

Projects in the blockchain will issue their own digital currency, tokens, to replace currency for transactions. Among them, the tokens issued based on the ERC20 protocol are FT homogenized tokens, and those based on the ERC721 protocol are NFT non-homogeneous tokens.

NFT "technology" provides a method of "marking the ownership of native digital assets", so after an asset on the blockchain is marked, no one can take it away.

For example, there has been a lot of news about the theft of Bitcoin in recent years. But if there is a serial number on your Bitcoin, once someone else sells your coins in the exchange, you can find out through the serial number. So, this is the embodiment of NFT's extremely innovative power.

In the current financial system, in addition to virtual currencies, NFT (non-homogeneous tokens) has become an area of concern for many people. It is understood that NFT allows artworks to be marked as digital ownership certificates and can be bought and sold (but buyers will not get the actual artwork because the artwork is too large to be stored on the blockchain, and will not be copyrighted.)

Therefore, in recent years, many artists have sold their works through this blockchain technology, and high-volume transactions have naturally become the subject of discussion from all walks of life.

Regarding why the whale was chosen as the image of artistic creation, Benjamin, the protagonist of this article, said, “The reason for choosing a whale is because in cryptocurrency, a whale refers to a person who owns 1,000 Bitcoins.”

Most of the external evaluations on this matter said that what this 12-year-old kid did may well indicate where we will go in the next 10, 15 or 25 years. To some extent, this verifies everyone's views on blockchain, Bitcoin and Ethereum.

For this matter, of course there are different voices. In foreign media reports, some insiders analyzed "warning" that Benjamin's success may disrupt the digital business model of the banking industry.

Currently, Benjamin stores his income in Ethereum, which is a cryptocurrency that was also used to sell "whale" art.

Reference link:
https://www.theguardian.com/technology/2021/aug/27/boy-12-makes-29000-in-non-fungible-tokens-with-digital-whale-art