Solana

The Indonesian college student who earned a million dollars selling nonfungible tokens (NFTs) of his selfies in 2022 has made a comeback, raising $1.8 million in a memecoin presale.
In January 2022, Sultan Gustaf Al Ghozali minted NFTs with photos of himself that he took every day for five years. The collection, called “Ghozali Everyday,” <a href="https://cointelegraph.com/news/22-year-old-indonesian-boy-makes-1m-by-selling-nft-selfies-on-opensea">gained support from crypto community</a> members, netting Ghozali, who was still a student, over $1 million.
When Ghozali graduated from college in 2023, he posted on X that he would finally stop taking selfies. He said he was lucky to have made money from the “stupidest idea” he came up with. 
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 Source: <a href="https://twitter.com/Ghozali_Ghozalu/status/1694679286182293848" target="_blank" rel="noopener nofollow">Ghozali</a>
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After disappearing from X for months, Ghozali reappeared as interest in memecoins surged. On March 24, he announced the second iteration of Ghozali Everyday — a memecoin and NFT hybrid project on the Base blockchain. 
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 Ghozali’s memecoin presale address. Source: Etherscan
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Since its launch, Ghozali’s presale has surpassed its 400 Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) cap. At the time of writing, the presale address <a href="https://etherscan.io/address/0x4553555f6a451EC415f698A524B5e02E38acFB6C" target="_blank" rel="noopener nofollow">reached</a> 527 ETH, around $1.8 million. 
However, Ghozali wrote on X that he would <a href="https://twitter.com/Ghozali_Ghozalu/status/1771724578005340402" target="_blank" rel="noopener nofollow">refund</a> those who sent more ETH after the cap was reached. 
Amid the Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) uptick, interest in memecoins has resurfaced, driven mainly by Solana traders. Data showed that presale projects on Solana <a href="https://cointelegraph.com/news/solana-memecoin-presales-hit-peak-degeneracy-over-one-hundred-million">raised $100 million in just three days</a>&nbsp;from March 15 to 18. 
Community members described the Solana memecoin frenzy as “peak degeneracy,” with users blindly sending Solana (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) tokens to founders announcing “presales” without any guarantee that they would get any tokens back. 
Related: <a href="https://cointelegraph.com/news/trader-fumbles-1-million-solana-memecoin-frenzy">Trader fumbles $1M bag after selling a Solana memecoin early</a>
In addition to the Solana network, the total value locked (TVL) in crypto exchange Coinbase’s layer-2 network, Base, has doubled as investors eye the blockchain as the <a href="https://cointelegraph.com/news/coinbase-network-base-tvl-doubles-month-memecoins-drive-adoption">next epicenter for memecoins</a>. 
On March 23, Base’s TVL reached $2.13 billion. Some industry pundits believe that after Solana’s meme season, the attention might slowly shift to Base, and there could be potential crazy runs in the layer-2 network. 
However, on March 14, asset manager Franklin Templeton published an investor note warning that memecoins have “no inherent value or utility.” 
Despite this, the asset manager recognized that meme-based tokens <a href="https://cointelegraph.com/news/franklin-templeton-publishes-memecoins-investor-note">have the potential</a> to give investors fast gains. 
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/">Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO</a>

Indonesian NFT ‘selfie guy’ makes $1.8M in memecoin comeback

Cointelegraph

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