Tuesday, July 27

‘Digital House’ Sells for $ 500,000 in Latest NFT Sale | Digital art

In what could be more easily understood as the most expensive Sims game ever played, a “digital home” set in a Mars-like landscape has sold for $ 500,000 or 288 Ether, a cryptocurrency, in the latest purchase. in the non-fungible token market.

The house, called “Mars House,” was designed by Toronto-based artist Krista Kim with the help of an architect and video game software, architecture and design magazine. The seas reported.

The new owner of the 3D digital file will be able to explore the rooms of the open-plan mansion using virtual reality (a digital world) or, in the future, augmented reality (where digital elements are added to a view of the real world). SuperRare, a non-fungible token (NFT) marketplace, said it was the “world’s first NFT digital house.”

Questions and answers

What are non-fungible tokens (NFT)?

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Non-fungible tokens, known as NFTs, are electronic identifiers that confirm that a digital collectible is real by recording the details in a digital ledger or database known as a blockchain. Tokens have taken the world of online collection by storm and are a consequence of the cryptocurrency boom.

They are used to prove that an item is unique and aim to solve a fundamental problem for digital collectibles: how to claim ownership of something that can be easily and infinitely duplicated.

Musician and artist Grimes sold a collection of digital artworks for almost $ 6 million (£ 4.3 million) using the technology, while Jack Dorsey, the chief executive of Twitter, posted his first tweet, “just setting up my twttr “, for an online auction such as an NFT, with bids reaching $ 2.5 million.

But while the technology of NFTs itself prevents them from being duplicated without permission, there is nothing inherent in the industry that controls who can make an NFT in the first place – a fact that has caused consternation to some artists, who have found their work done. . in the “control” of people who had nothing to do with its creation.

There has also been criticism about the environmental impact caused by the computer processing power required to validate the blockchain, a charge that also applies to cryptocurrencies.

Photograph: Andre M Chang / Rex Features

Kim described his creation as a “sculpture of light.” Every room has transparent walls, who needs privacy on an uninhabited planet? Outside, there are several translucent sunbathing chairs to catch the rays under the toxic-looking red sky, presumably while wearing some kind of breathing apparatus.

The buyer now owns a certificate of digital ownership protected by blockchain technology, described by New York writer Nathan Heller in 2017 as “like the digital version of a scarf knitted by your grandmother. Use a ball of wool and the result is continuous. Each stitch depends on the previous one. It is impossible to remove part of the fabric, or to substitute a sample, without leaving a trace ”.

The sale comes after an exclusively digital work by artist Mike Winkelmann, known as Beeple, was purchased for $ 79.4 million, “ranking him among the top three most valuable living artists,” according to Christie’s auction house.

This week, Twitter co-founder Jack Dorsey’s first tweet, sent almost exactly 15 years ago, sold as NFT for $ 2,915,835.47. The post said: “” just setting my twttr “.

Earlier this month, Gucci launched digital-only shoe sales at $ 17.99, a “virtual steal” at about $ 480 less than what the luxury brand’s shoes normally sell for. The shoes could be “worn” using virtual and augmented reality.

Kim told Dezeen that he believes that the NFT market “supports positive change through the crypto revolution” and that this revolution “will create real political action to support green energy and sustainability.”

At the moment, NFTs are notoriously unsustainable, because producing an NFT is very energy-intensive. An artist named Joanie Lemercier who sold her digital works for six NFTs in 2019 calculated that the sale had used the equivalent of two years of energy use in her studio. Cabling reported.


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