The digitization of our world has entered a completely new stage. The world’s first virtual home has just been sold. Amount? Over PLN 2 million. It is a property “from Mars”, which was designed by the artist Kristy Kim.
Kristy Kim and her Mars House
Mars House was created by Toronto-based artist Kristy Kim. This is the world’s first virtual house to be sold on the NTF (non-fungible token) token market.
The characteristics of the product may – to put it mildly – be surprising. The digital home can only be used in the e-world. It will never be built. It is only a digital record. It was designed with the use of the Unreal Engine.
Interestingly, Kim took care of the details. The style of the house is supposed to match the atmosphere on Mars. The house has transparent walls with an applied gradient. Mars House also reflects its designer love of meditation.
Where does this price come from?
Someone looking at this type of investment may think that the buyer has gone mad. Eventually, he paid a fortune for something that doesn’t exist, or at least has no physical form. It can be considered that this type of purchase is a sign of our times and a desperate attempt to invest in anything that is not a fiat currency.
But it’s also about something else. Virtual real estate has been coded using the blockchain standard and NTF technology. So it is unique. Nobody can copy it, which is possible thanks to a special digital certificate. We are talking about something like an entry in the land register or a patent office.
The house was listed and sold on the NFT SuperRare market for 288 Ether.
The world’s first NFT tokens were the CryptoPunks series. The project consists of 10,000 units. Each of them is an 8-bit image with dimensions of 24 × 24 pixels. The creators describe the whole as “A digital work containing both the image of the character and the blockchain’s ownership mechanisms.” The graphics present various characters: the title cyberpunks. Some of them will now be auctioned off at Christie’s, the iconic English auction house that was founded in 1766 in London by James Christie.