A 12-year-old boy from London has made about £290,000 during the school holidays, after creating a series of pixelated artworks called Weird Whales and selling non-fungible tokens (NFTs).
With NFTs, artwork can be “tokenised” to create a digital certificate of ownership that can be bought and sold.
They do not generally give the buyer the actual artwork or its copyright.
Benyamin Ahmed is keeping his earnings in the form of Ethereum – the crypto-currency in which they were sold.
This means they could go up or down in value and there is no back-up from the authorities if the digital wallet in which he is holding them is hacked or compromised.
He has never had a traditional bank account.
Benyamin’s classmates are as yet unaware of his new-found crypto-wealth, although he has made YouTube videos about his hobby, which he enjoys alongside swimming, badminton and taekwondo.
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