Because they have spent so much time at home in the past year, many people long for a change in their environment.
But if a coat of paint or creative renovations don’t work, there is now a more extreme alternative: the digital home.
NFTs have recently made headlines, allowing digital art and other musings such as drawings or music to be sold online.
An NFT is a unique digital token that effectively verifies authenticity and ownership. It is encrypted with the artist’s signature on the blockchain, a digital ledger used in cryptocurrencies such as bitcoin.
NFT’s digital Mars House sold for more than $ 500,000. Credit: Thanks to Krista Kim
The new owner paid digital artist Krista Kim 288 Ether – a cryptocurrency equal to $ 514,557.79 – for the virtual property.
In return, the buyer will receive 3D files to upload to his or her “Metaverse”.
Metaverse is a virtual extension of our world, Kim told CNN on Tuesday, where parcels of virtual land are bought and traded, and digital homes and businesses are built.
There is a market for digital assets such as fashion and accessories and users can live and interact in a Metaverse through their digital avatar.
Kim said the concept behind the house was “inspired by being locked up during the pandemic.”
Kim, who describes herself as a “Techism artist,” told CNN, “Mars House represents the next generation of NFTs. It’s a sign of things to come as we move into a future with AR (augmented reality), with the launch of Apple AR glasses and AR contact lenses.
“Art, NFTs, cryptocurrencies… these profound changes and ideas about how we will live with digital assets are becoming a reality and will bring about a global paradigm shift.
“In addition, after being incarcerated because of Covid-19, we need more innovative ideas about how our interiors can heal us as mental health has become a primary concern for everyone.”
Artist Kim said the Mars House represents “the next generation of NFTs.” Credit: Thanks to Krista Kim
The artist said she teamed up with The Smashing Pumpkins musician Jeff Schroeder to create a calming musical accompaniment.
Record-breaking month for NFTs
The sale took place last week – adding to what has been a record month for NFTs.
The very first NFT artwork to be sold in action for a whopping $ 69 million on March 11, positioned artist Beeple near the top of the most expensive living artists to date.
And Gucci has started selling shoes digitally-only priced at hundreds of dollars below the price their physical shoes normally sell for.