The world’s first digital NFT house will sell for $ 500,000

Written by Lianne Kolirin, CNN

After spending so much time at home over the past year, many people want a change in their environment.

But if a coat of paint or some creative upgrades fail the trick, there is a longer alternative now: The digital house.

Mars House, the world’s first NFT (non-fungible token) digital home, recently sold for more than $ 500,000.

NFTs have made headlines recently, allowing digital art and other sensations such as photos or music to be sold online.

An NFT is a unique digital signal that effectively verifies authentication and ownership. It is encrypted with the artist’s signature on the blockchain, a digital ledger used in cryptocurrencies like bitcoin.

NFT Digital Mars House sold for over $ 500,000. Credit: Courtesy of Krista Kim

The new owner paid digital artist Krista Kim 288 Ether – a cryptocurrency equivalent to $ 514,557.79 – for the virtual building.

In exchange, the buyer receives 3D files for upload to the “Metaverse.”

Metaverse is a significant expansion of our world, Kim told CNN Tuesday, where plots of virtual land are bought and traded, and digital homes and business are built.

There is a market for digital assets such as fashion and decoration and users can live and interact in Metaverse through their digital avatar.

Kim said the concept behind the house was “inspired by being locked up during the pandemic.”

Kim, who claims to be a “Techism artist,” told CNN: “Mars House represents the next generation of NFTs. It ‘s a sign of things to come, and we’re going to -into the future of AR (augmented reality) interface, with the launch of Apple AR Glasses and AR contact lenses.

“Arts, NFTs, cryptocurrencies … these big changes and ideas about how we live with digital assets are coming to fruition and will create a global paradigm shift.

“Also, having been constrained by Covid-19, we need more innovative ideas on how our indoor environments can heal us, as mental health has become a major concern for him. all. “

Artist Kim said the House represented Mars

Artist Kim said Mars House represented “the next generation of NFTs.” Credit: Courtesy of Krista Kim

The house is expected to “leave a zen, healing atmosphere,” Kim said in a post on Instagram earlier this month.

The artist said she partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a soothing musical support.

Modern month for NFTs

The show was held last week – adding to what has been a fantastic month for NFTs.

On Monday, Twitter CEO Jack Dorsey sold the ever-published tweet as an NFT for $ 2.9 million. The tweet, which said, “just setting up my twttr,” was published on March 21, 2006.

The first ever NFT artwork sold at work for a staggering $ 69 million on March 11, placing artist Beeple near the top of the most expensive live artists to date.

And Gucci has sold digital-only shoes at a price of hundreds of dollars below what their physical shoes typically sell.