Contemporary artist Krista Kim recently sold a digital house created by NFT for 288 ether, valued at over $ 500,000, based on the cryptocurrency’s trading price on Wednesday.
The creation – called Mars House – is part of Kim’s great vision for the role that augmented reality will play in the world, she explained in an interview with CNBC’s “Squawk Alley”.
“Right now, a lot of [NFT] The art currently available on the platforms is a very limited parameter of how you can present the art, “Kim said Wednesday.” It is practically presented as a digital file, a drawing or a beautiful video on the screen, but my intention was to look beyond that. “
The new owner of Mars House, she said, will be able to upload the file to various metavers – 3D immersive worlds – and experience the digital real estate there. She said Mars House is “the next generation of NFT art.”
“For me, in fact, I predict that we will live in an augmented reality lifestyle in a very short period of time,” Kim said, predicting that it could happen in “a few years.”
A view of Mars House, a 3D NFT creation from Krista Kim Studios that was recently sold.
Artist: Krista Kim
Metaverse is an informal term used to describe a collaborative and captivating virtual world, and companies such as Roblox and Fortnite Epic Games are working on this concept.
Augmented and virtual reality are essential to provide a more captivating experience to these worlds. RA is a technology that overlays computer-generated images over real-world images, while VR goes further into a complete virtual space. Both have historically been associated with some kind of wearable headphones or glasses.
Facebook’s Oculus is a well-known brand that makes virtual reality headsets, and the CEO of social media giant Mark Zuckerberg predicted great progress in AR and VR over the next decade. Facebook plans to launch smart glasses later this year.
Microsoft has its own HoloLens offer and, Kim mentioned, it was rumored that Apple has been working on an AR product for a long time.
Kim sees a central role for NFTs as the so-called AR lifestyle progresses.
“We will all decorate our environments and our personal space, our fashion,” she said. “Just like tattoos. People express themselves with tattoos. It’s an art form. Well, people will also express themselves with the help of digital … goods and decorative pieces and collections, fashion, accessories.”
A view of Mars House, a 3D NFT creation from Krista Kim Studios, which was recently sold.
Artist: Krista Kim
NFTs are blockchain-based assets, unique in design, and their popularity has grown in recent months. Among their most critical features, supporters say, is to allow documented ownership of digital articles.
The ownership of a particular NFT is recorded on large distributed registers known as blockchains, which are also used to power cryptocurrencies, such as bitcoin. A number of assets are already sold in the form of NFTs, including basketball items, old tweets and a rock album. Recently, RTFKT studios sold a collection of NFT-branded digital sneakers for metavers.
Historic auction houses known for selling multimillion-dollar paintings have also entered the crypto collection crisis. Last week, an NFT collage by the artist Beeple sold at a Christie’s auction for $ 69 million. On Tuesday, Sotheby’s announced a partnership with digital artist Pak.
Critics dismissed the NFT boom as a flash in the pan destined to fade over time, and some note their growing popularity – and what people are willing to pay for them – coincided with a major rally in the value of many cryptocurrencies.
NFTs are “new to us all,” Sotheby CEO Charles Stewart told CNBC on Tuesday. “But there are a lot of things here that are really exciting and we think he has the strength to stay.”
Kim agreed, saying that “art-appropriate NFTs have a very strong value proposition, because they appreciate value over time, because it is a social asset.”