Contemporary artist Krista Kim recently sold an NFT-hit digital home for 288 eaters, valued at more than $ 500,000, based on the cryptocurrency’s trading price on Wednesday.
The creation – called Mars House – is part of Kim’s grand vision for the augmented reality in the world, she explained in an interview on CNBC’s “Squawk Alley”.
‘At the moment, many of the [NFT] art that is currently available on platforms, it is a very limited parameter for how you can present the art, “Kim said Wednesday. It’s basically presented as a digital file, a beautiful drawing or video on your screen, but my intention was to look beyond that. ‘
The new owner of Mars House, she said, will be able to upload the file in different metavers – 3D immersive worlds – and experience the digital real estate there. She said Mars House represents the ‘next generation NFT art’.
“For me, I actually foresee that we will live in a complementary lifestyle within a very short period of time,” Kim said, predicting that it could happen in a few years.
A View of Mars House, a recently sold 3D NFT creation from Krista Kim Studios.
Artist: Krista Kim
The metaverse is an informal term used to describe a collaborative and immersive virtual world, and companies such as Roblox and Fortnite maker Epic Games are working on the concept.
Augmented and virtual reality is the key to a more immersive experience for these worlds. AR is technology that puts computer-generated images on top of real views on top of each other, while VR goes further into a full virtual space. Both are associated in history with some kind of wearable headset or glasses.
Facebook’s Oculus is a well-known brand that makes virtual reality heads, and social media giant CEO Mark Zuckerberg predicted major advances in AR and VR in the coming decade. Facebook plans to release smart glasses later this year.
Microsoft has its HoloLens offering, and Kim noted 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’re all going to decorate our environments and our personal space, our fashion,” she said. “Just like tattoos. People express themselves with tattooing. It’s an art form. Now, people are also going to express themselves with digital … assets and embellishments and collectibles, fashion, accessories.”
A View of Mars House, a recently sold 3D NFT creation from Krista Kim Studios.
Artist: Krista Kim
NFTs are blockchain-based assets that are uniquely designed, and their popularity has increased over the past few months. Proponents of her case have been working to make the actual transcript of this statement available online.
Ownership of a particular NFT is recorded on distributed digital ledgers, known as a blockchain, which is also used to power cryptocurrencies such as bitcoin. A range of assets are already being sold as NFTs, including basketball highlights, old tweets and a rock album. Recently, RTFKT Studios sold a collection of NFT-beaten digital sneakers for the metavers.
Historic auction houses known for selling million-dollar paintings have also entered the crypto-collection battle. Last week, an NFT collage by artist Beeple was sold at a Christie’s auction for $ 69 million. Sotheby’s announced a partnership with digital artist Pak on Tuesday.
Critics have dismissed the NFT boom as a flash in the pan destined to fade over time, with some noting that their rising popularity – and what people are willing to pay for it – has coincided with a major rally in the value of many cryptocurrencies.
NFTs are ‘new to all of us’, Sotheby’s CEO Charles Stewart told CNBC on Tuesday. “But here’s a lot that’s really exciting and we think it’s staying power.”
Kim agreed, saying that “NFTs that match art have a very strong value proposition because over time they value value because they are a social asset.”