The world’s first NFT house, created by artist Krista Kim, just bagged $500,000. Called the Mars House, it is certainly a remarkable sight to behold. The property is non-existent in the real world but is a futuristic 3D model that can only be experienced in virtual reality.
The 3D model of the house has been sold as a non-fungible token (or NFT), which is a unique digital asset operating on blockchain technology. The proof of the asset’s authenticity is guaranteed by encryption and the records showing the data of the creator and the owner.
The neon-lit, glass dwelling was put up for sale on SuperRare last week and was bought by the Internet foundation for 288 Ethereum coins which were equivalent to $514,557.79 at the time of the sale. The majority of proceeds from the sale will be going to the Continuum Foundation and would be put towards a world tour of sound and light installation designed to promote mental health, as stated by the artist.
Kim has also stated that the Mars House’s design is meant to promote meditative well-being which has been one of her creative focuses during the lockdowns imposed as a result of the pandemic.
“Mars House represents the next generation of NFTs,” said the artist. “It is a sign of things to come, as we enter an [augmented reality] interfaced future, with the launch of Apple AR glasses and AR contact lenses. Art, NFTs, cryptocurrencies. . .these sweeping changes and ideas of how we will live with digital assets is becoming a reality and will create a global paradigm shift.”
The Mars House NFT comprises a 3D file of the residence which can be uploaded to the foundation’s ‘metaverse’. Tech support and a soundtrack composed by the Smashing Pumpkins’s Jeff Schroeder also accompany the file.
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