By: April Carson
This youngster from London is already a self-made millionaire at the age of 12.
His company, "Rare Bits", is a decentralized marketplace that lets users buy and sell non-fungible tokens. NFTs are unique digital assets that could be anything from CryptoKitties to tickets for an event.
Benyamin Ahmed first got the idea for his startup when he was playing CryptoKitties as a kid and saw how much some of the digital cats were selling for.
He creates online avatars as well, when he's not too busy doing math homework.
In less than a year, eighth grader Benyamin Ahmed, who is known for creating original NFTs artworks, has amassed a cryptocurrency wallet worth around $1 million. He's made a fortune by using his talent.
Whales wearing baseball caps or sweat bands, smoking pipes or donning top hats, with a variety of colorful backgrounds are recurring motifs in his distinctive collection of 3,350 pixelated images.
Non-fungible tokens, or NFTs for short, are cartoonish digitally copyrighted avatars that are quite popular among the bitcoin and metaverse crowd. Ahmed's "Weird Whales" have been sold for $20,000 each.
“I picked a whale because someone who has 1,000 bitcoins is known as a whale,” Ahmed said. “Some people even refer to $20,000 as a whale.”
When a friend of his father, who works for the London stock exchange as a programmer, paid $27,000 for a Rare Pepe image, he was inspired to learn more about NFTs.
“It seemed massively pricey at the time, but my dad's friend sold his NFT only a few months later for $500k," Ahmed said, "I was intrigued that someone was prepared to pay this much for a JPEG!”
That kind of windfall was far from unusual. The CryptoPunks collection is the most well-known NFTs, with some avatars selling for millions of dollars. NFT sales worldwide reached $25 billion in 2021.
The determined tween, who was just five years old when he first learnt the fundamentals of coding, taught himself how to use Open Sea, the most popular online NFT marketplace, as well as how to design and produce his own profile pictures. He published "Weird Whales" in June 2021.
After his debut, Ahmed published a Twitter thread on how to make his whales. His tweets gained traction and he became a cult hero in the NFT ecosystem. He's now working with other designers on additional collections that include Marvel and Disney artists.
He has added more than $15 million in assets to his bankroll since beginning his career, according to him. He's made about $1 million and kept it all in bitcoin. He hasn't converted a penny and doesn't have a traditional bank account. He's spent nothing on his windfall.
“I might end up losing everything,” he explained. “But I don't need the money yet. I'm sure [cryptocurrency] prices will rise a lot more from here.”
The twelve-year-old, who spends his time between the pool and taekwondo when he isn't fattening his crypto wallet, initially wanted to keep his good fortune a secret. However, when his tale began to get press coverage, friends and family learned about it, resulting in a flood of congratulations.
“My grandad is seriously unwell at the moment, so it was wonderful to see him enjoy all of the coverage with pride,” added Ahmed. “It's not about the money for me, but rather the times like this that make me the most happy.”
Aged six, Ahmed taught himself to code. Now the middle-schooler is already working on building his own company called JoeGeek. He has even created a prototype of an ultra-secure mobile phone with his father using components sourced from China.
Want to learn more about NFTs? Tune in to Billy's FREE NFT and Blockchain Master Class on February 27th at 3-5PM!!
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About the Blogger:
April Carson is the daughter of Billy Carson. She received her bachelor's degree in Social Sciences from Jacksonville University, where she was also on the Women's Basketball team. She now has a successful clothing company that specializes in organic baby clothes and other items. Take a look at their most popular fall fashions on bossbabymav.com
To read more of April's blogs, check out her website! She publishes new blogs on a daily basis, including the most helpful mommy advice and baby care tips! Follow on IG @bossbabymav
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