Indonesian Student Behind NFT Selfie Success Launches $1.8 Million Meme Coin Presale

Indonesian Student Behind NFT Selfie Success Launches $1.8 Million Meme Coin Presale

Indonesian college student Sultan Gustaf Al Ghozali, who became known as an internet phenomenon in 2022 for selling millions of dollars in NFTs of his daily selfies, is back in the spotlight with a meme coin presale. Ghozali announced the second edition of “Ghozali Everyday” on March 24. This project uniquely connects meme coins with NFTs on the Base blockchain. The project's presale exceeded the initial target of 400 Ether (ETH) and reached 527 ETH.

Impact and context

In January 2022, Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, made a splash in the crypto world by creating Non-Fungible Tokens (NFTs) that featured daily selfies he had taken over five years. He took nearly 1,000 self-portraits documenting his journey from age 18 to age 22.

These selfies, intended as a personal reflection of his academic career, showed him in various poses, sitting or standing in front of his computer. This collection, called “Ghozali Everyday,” quickly gained traction in the crypto community and earned more than $1 million for the student at the time.

After his success, Ghozali expressed his gratitude for the support and the opportunity to turn a personal project into a profitable business. He announced on

On March 22, Ghozali returned to X after several months away as interest in meme coins increased. He announced the second iteration of his “Ghozali Everyday” project, which now combines meme coins and NFTs in ERC-404 format on the Base blockchain. To mark the launch, he initiated an airdrop campaign for holders of the first Ghozali Everyday NFTs.

On March 24, Ghozali unveiled the launch of the second part of Ghozali Everyday. He announced the presale address, with a set limit of 400 ETH. However, the presale quickly exceeded this limit, reaching 527 ETH, which is approximately $1.8 million at the time of writing.

Despite the overwhelming response, Ghozali announced that he would refund those who sent more than 2 ETH after the limit was reached. He also clarified that the limit will not be increased to ensure fairness and transparency in the implementation of the project.

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Solana’s Meme Coin madness

Given the recent bullish rise in Bitcoin prices, there has been a resurgence of interest in meme coins, driven primarily by traders on the Solana blockchain. Data shows that presale projects on Solana raised a staggering $100 million in just three days, from March 15 to March 18.

This increase in funding reflects a trend in which meme coin founders are using token presales to raise large amounts of money for yet-to-be-released coins. The presale mechanism typically involves investors sending cryptocurrency to a specified wallet address and receiving tokens in return once the coin is officially launched. However, there is no guarantee of getting tokens back, making presales vulnerable to fraud and scams.

The recent hype surrounding meme coin presales peaked with the launch of Book of Meme on March 14th. The coin, created by pseudonymous artist Darkfarms1, initially had a valuation of around $4 million, but rose a staggering 36,000% in just 56 hours to reach a peak market cap of $1.45 billion.

Although the profitability of meme coins has excited the crypto space, concerns have been raised about the presale model and the risks associated with it.