Long Beach (CoinChapter): The NFT world continues to expand into different aspects of society and the latest seems to be real estate. A Toronto buyer purchased the NFT home ‘Mars House’ for $512,712 worth of Ether in March.
The house was sold on NFT marketplace SuperRare. The buyer received 3D files and clips of the NFT piece set to music. Those files can then be uploaded to the buyer’s metaverse and used as a home for their avatar.
Mars House is the first blockchain-based digital house in the world according to SuperRare. The artist, Krista Kim, was inspired during the quarantine with hopes of promoting wellbeing through meditative design.
“Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing,” the press release said. “Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere.”
Furthermore, Kim hopes to see some recreate the NFT in the real world. “Everyone should install an LED wall in their house for NFT art,” she added. “This is the future, and Mars House demonstrates the beauty of that possibility.”
As it stands, the house remains available only on a metaverse, a virtual world similar to popular videogames such as ‘Minecraft.’ Within the metaverse, users can buy digital assets, like homes, while living and interacting with other users via an avatar in the virtual world.
Janine Yorio, head of real estate group Republic, believes NFT real estate could be the future of home buying. In a post on CoinDesk she noted, “I predict that the best parcels of virtual real estate will appreciate faster than real-world real estate.”
NFT Mars House first blockchain based house
While ‘Mars House’ is viewed as the first blockchain-based house, it is not the first, or even most expensive virtual real estate property. In February, an Axie Infinity gamer paid $1.5 million in Ether to purchase nine Genesis plots.
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
The future of nonfungible token (NFT) lending platform BendDAO has caused further disarray in the cryptocurrency space as several...
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
