British tween with no bank account earns $400K on NFT sales
12-year-old Benyamin Ahmed from London has earned about $400,000 through the online sale of his artworks in nonfungible tokens (NFT) during school break.
Ahmed’s artwork initially caught attention on Twitter and went viral soon. Speaking during an interview with Geo.tv, he shared his excitement about having earned money “without having a bank account.”
Ahmed discussed he had first made artworks and then tokenized whale emojis that were digital pictures, branding those as “Weird Whales,”. These were then sold as NFTs online. Before this, he had also tokenized a Minecraft-inspired art set, but it did not sell due to low popularity.
Father of the child, Imran Ahmed, said he taught both his children to code since they were six. Imran explained that age is a bar for opening bank accounts; otherwise, Benyamin is “highly creative” and “keeps his money in an online blockchain.” Also, he clarified that his son’s earnings through NFT artworks had been converted to Ether (ETH).
The NFT landscape, although booming in popularity, has uncertainties where legalities are concerned, especially when it comes to the proper infrastructure; NFTs lag behind to create one that adheres to copyright laws for both creators and purchasers.
Experts have proffered a solution for this issue by involving firms specializing in copyright knowledge of NFT development.