At least there are no property taxes.
A “digital house” is the latest instance of a non-fungible token (NFT) to go for big money.
Mars House, a virtual home project created by artist Krista Kim, recently sold for $500,000, reports CNBC.
The contemporary artist’s virtual home sold for 288 units of the cryptocurrency Ether, which is equivalent to more than $500,000.
NFTs are objects that exist digitally in systems of blockchains like the cryptocurrency Bitcoin. Unlike cryptocurrency, however, each NFT is completely unique (non-“fungible” or mutually interchangeable) and can’t be replaced by another object (as opposed to all units of Bitcoin, for example, which are identical and equal to one another).
If it sounds a bit complicated — well, it is. But Kim says her piece is not only representative of the “next generation of NFT art,” but indicative of a broader futuristic trend that may be coming quicker than we expect.
“For me, I actually foresee that we will be living in an augmented reality lifestyle within a very short period,” Kim told CNBC’s “Squawk Alley.” She estimated that this new mode could happen in “a couple years.”
Photos of Mars House shared on Kims’ Instagram show a minimal decor set against a soft blend of relaxing, gradient colors.
But what can you actually do with the “house”? While you can’t physically inhabit it, you can come closer than ever to your “Sims”-inspired nirvana by setting it as your Zoom background, or exploring it using virtual-reality goggles, New York Post reports.
Kim said her house was inspired by her transcendental meditation practice and the ancient Zen gardens of Kyoto, Japan.
“It became my dream house,” she said of the house that she began designing in March 2020.
Kim isn’t the only one hopping on the NFT fad.
Last week, Elon Musk shared a brand new track — a song about NFTs, made available as its own NFT.
“I’m selling this song about NFTs as an NFT,” the Tesla CEO wrote.
Related
Even athletes are riding the lucrative crypto wave. Last week, NFL free agent Russell Okung became one of the league’s highest-paid players when Bitcoin reached an all-time of $61,000. Last season, Okung converted half of his $13-million salary to Bitcoin while playing for the Carolina Panthers. The player’s 240 BTC, originally purchased for $7.6 million, were worth an estimated $14.1 million after the spike in Bitcoin’s price, according to reports.
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