Toronto-based artist Krista Kim has sold the first NFT-backed digital home for over half a million dollars, as interest in virtual design continues to grow.
Named Mars House, the digital home designed by Kim was sold on non-fungible token (NFT) marketplace SuperRare for 288 Ether ($512,000), a cryptocurrency similar to Bitcoin.
Based on blockchain technology, NFTs act as digital certificates of ownership and enable digital artworks or designs to be bought, sold and collected.
Described by SuperRare as “the first NFT digital house in the world”, Mars House is a 3D digital file that can be experienced in virtual reality.
Kim designed the home in 2020 to be a space that embodied her philosophy of meditative design and worked with an architect to render the house using Unreal Engine, software that is commonly used to create video games.
She describes the house, which overlooks a moody mountain range and features an open-plan design and floor to ceiling glass walls, as a “light sculpture”.