Saudi Press

Saudi Arabia and the world
Friday, Apr 26, 2024

Twelve-year-old boy makes £290,000 from whale NFTs

Twelve-year-old boy makes £290,000 from whale NFTs

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.

Extremely proud


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.

"My advice to other children that maybe want to get into this space is don't force yourself to do coding, maybe because you get peer pressured - just as if you like cooking, do cooking, if you like dancing, do dances, just do it to the best of your ability," he said.

Benyamin's father, Imran, a software developer who works in traditional finance, encouraged Benyamin and his brother, Yousef, to start coding at the ages of five and six.

The children have had the advantage of a strong network of technology experts to call on for advice and help - but he is extremely proud of them.

More serious


"It was a little bit of a fun exercise - but I picked up on really early that they were really receptive to it and they were really good," Imran said.

"So then we started getting a little bit more serious - and now it's every single day... but you can't cram this stuff, you can't say I'm going to learn coding in three months."

The boys did 20 or 30 minutes of coding exercises a day - including on holiday, he said.


Weird Whales is Benyamin's second digital-art collection, following an earlier Minecraft-inspired set that sold less well.

This time, he drew inspiration from a well known pixelated whale meme image and a popular digital-art style but used his own program to create the set of 3,350 emoji-type whales.

"It was interesting to see all of them hatch, as they appeared on my screen slowly generating," he said.

Benyamin is already working on his third, superhero-themed collection.

He would also like to make an "underwater game" featuring the whales.

"That would be amazing," he said.

Imran is "100% certain" his son has not broken copyright law and has engaged lawyers to "audit" his work, as well as getting advice on how to trademark his own designs.

The art world is divided over the current trend for NFTs.

Artists say they are a useful additional line of revenue.

And there are many stories of eye-wateringly high sales.

But there is also scepticism over whether they are a realistic long-term investment.

And former Christie's auctioneer Charles Allsopp told BBC News buying them made "no sense".

"The idea of buying something which isn't there is just strange," he said earlier this year.

"People who invest in it are slight mugs - but I hope they don't lose their money."

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Reports in Gaza: 5 dead from the impact of aid packages dropped by the USA
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
×