The recent phenomenon of NFT is obviously not about to come down. A Canadian artist recently sold the first NFT for a first virtual home for $ 500,000, or around € 400,000.
A house to operate in virtual reality
NFTs (non-fungible tokens) are a special type of cryptographic token. These represent something unique and therefore, are not interchangeable as can be traditional cryptocurrencies such as Bitcoin (BTC). They are used to verify verifiable digital scarcity, digital ownership, but also the possibility of interoperability of assets across multiple platforms. Currently, the iconic figure of the NFT may be Beeple (Mike Winkelmann) an American who presents himself as a “digital artist”. March 11, 2021, he sold his job titled Daily: the first 5,000 days for $ 69.34 million. She thus became the third most expensive work of art sold by a living artist and created a buzz on the web.
As explained USA today on March 24, 2021, Canadian artist Krista Kim sold the first NFT for a virtual house, for the equivalent of 400,000 euros. The new owner has also paid the bill in cryptocurrency (288 Ethereum). Let us also mention the fact that it is a first in the world of real estate. Based in Toronto (Canada), this house is a mansion named Mars House. However, this accommodation is virtual and therefore totally uninhabitable. According to the artist, this is a 3D file to use in virtual reality and potentially in augmented reality. The new owner will therefore be able to have fun in the virtual world with his new house, which he can however place in the environment of his choice.
A wave not ready to disappear
“This new model of investing in social capital through the purchase of NFT art will hopefully become a model for others to follow. This could exist in the NFT art market because traditional art market intermediaries take 50% of the profits from an art sale. This limits the artist’s ability to create projects for the community.“, Is justified Krista Kim.
Since, more and more digital works of art are sold in the form of NFT. The recent transaction of Krista kim is the latest evidence that the NFT wave is not about to go away. Besides, these non-fungible tokens are not only about art or real estate. Jack Dorsey, the founder of Twitter, recently sold the NFT of the very first tweet in history for $ 2.9 million. Even more unusual, the famous Pizza Hut brand sells virtual pizza slices at prices reaching several thousand dollars! Finally, remember that Internet users have discovered NFTs for the first time in 2017, thanks to the phenomenon of CryptoKitties, an online game and DApp allowing players to collect and sell virtual chats.
Here are the images of the roof of Krista Kim’s virtual mansion posted by Dezeen: