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Usually when one spends over $500,000 for a house, you would expect to at least get a bedroom or bathroom or two that you can use. Not in the wonderful, wacky world of non-fungible tokens (NFTs).
For you see, in the NFT world, people pay thousands, and sometimes millions of dollars to purchase items that you can’t actually touch or use.
Often it is referred to as digital art, and it is art, people pay real money to buy fake money so they can buy fake items, kind of like in a video game, and quite often they don’t even own the only copy.
For instance, Jack Dorsey of Twitter recently sold his first tweet for $2.9 million, and yet, here it is… for free!
just setting up my twttr
— jack (@jack) March 21, 2006
This week, digital artist Krista Kim sold her creation, a digital house called Mars House, for 288 Ether, or $514,557.79 in real money.
Here’s a free copy of it…
For their $514,557.79 the buyer received 3D files to upload to his or her “Metaverse,” which according to Kim is a virtual extension of our world where plots of virtual land are purchased and traded, and digital homes and business are built (and that you can’t physically visit).
“Mars House represents the next generation of NFTs,” Kim told CNN. “It is a sign of things to come, as we enter an AR (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.
“Also, after being confined due to Covid-19, we need more innovative ideas on how our interior environments can heal us, as mental health has become a primary concern for all.”
Kim said on Instagram that Mars House is supposed to “emit a zen, healing atmosphere.”
I don’t know about you, but if someone bought a piece of my art for over $500K, and I still owned the original copy, I would most definitely be feeling extremely zen.