Home / Technology / The world’s first digital NFT house sells for $ 500,000

The world’s first digital NFT house sells 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 the environment.

But if a coat of paint or some creative renovations fail to do the trick, there is now a more extreme alternative: the digital house.

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

NFTs have recently made headlines so that digital art and other ideas such as drawings or music can be sold online.

An NFT is a unique digital token that effectively verifies authenticity and ownership. It is encrypted with the artist̵

7;s signature on blockchain, a digital ledger used in cryptocurrencies such as bitcoin.

NFT digital Mars House sold for more than $ 500,000.

NFT digital Mars House sold for more than $ 500,000. Credit: Regards Krista Kim

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

In exchange, the buyer receives 3D files that can be uploaded to his “Metaverse”.

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

It 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 down during the pandemic.”

Describing himself as a “Techism artist,” Kim told CNN: “Mars House represents the next generation of NFTs. It’s a sign of things to come, as we enter an AR (augmented reality) interface future , with the launch of Apple AR glasses and AR contact lenses.

“Art, NFTs, cryptocurrencies … these sweeping changes and ideas about how to live with digital assets are becoming a reality and will create a global paradigm shift.

“Having been trapped by Covid-19, we also need more innovative ideas on how our inner environments can heal us, as mental health has become a major concern for everyone.”

Artist Kim said Mars House represented

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

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

The artist said she collaborated with musician Jeff Schroeder from The Smashing Pumpkins to create a soothing musical accompaniment.

Record-breaking month for NFTs

The sale was made last week – which contributed to what has been a record-breaking month for NFTs.

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

The first NFT work of art to go on sale for a staggering $ 69 million on March 11, placing artist Beeple near the top of the most expensive living artists to date.

And Gucci has launched sales of only footwear at a price of hundreds of dollars below what their physical shoes usually sell for.

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