Upon the reemergence of his NFT enterprise, an Indonesian guy who made $1 million selling selfies with nonfungible tokens on OpenSea made a second appearance. Having raised $1.8 million in a memecoin presale. The Indonesian college student who gained a million dollars in 2022 by selling nonfungible tokens (NFTs) of his selfies has returned.

Sultan Gustaf Al Ghozali created NFTs in January 2022 using pictures of himself that he had taken every day for five years. The “Ghozali Everyday” collection garnered support from the cryptocurrency community, bringing in almost $1 million for the still-student Ghozali.

Following his 2023 college graduation, Ghozali declared on X that he would eventually give off snapping selfies. He expressed gratitude for being able to profit from his “stupidest idea.”

Ghozali returned on X after going missing for some months due to a spike in interest in memecoins. He unveiled the second version of Ghozali Everyday, a hybrid project on the Base blockchain combining NFT and memecoin, on March 24.

Ghozali’s memecoin presale address. Source: Etherscan

Investor Insights on Memecoins’ Value and Potential Returns

Ghozali’s presale has exceeded its 400 Ether ETH target since its introduction. $ 3,633 tickers down

hat. The presale address has reached 527 ETH, or almost $1.8 million. At the time of writing.But Ghozali promised to reimburse anyone who sent additional ETH after the cap was surpassed in a post on X. During the Bitcoin $70,684 tickers downward

resurgence of interest in memecoins, mostly due to Solana traders. Pre-sale projects on Solana garnered $100 million in three days, from March 15 to 18, according to data.

People in the community called the Solana memecoin craze “peak degeneracy.” Saying that individuals were just mindlessly distributing Solana SOL. tickers lower at $195

tokens to entrepreneurs who declared “presales,” with no assurance that the tokens would be returned to them.

As investors look to the blockchain as the next epicenter for memecoins, the total value locked (TVL) on Coinbase’s layer-2 network, Base, has doubled in addition to the Solana network.

Base’s TVL hit $2.13 billion on March 23. According to some industry observers, Base may gradually gain popularity following Solana’s meme season, and layer-2 network wild runs are possible.

Memecoins, however, have “no inherent value or utility,” according to an investor report published by asset management Franklin Templeton on March 14.

Nevertheless, the asset manager saw that meme-based coins could provide quick returns for investors.