Creator of the first NFT digital house Krista Kim on augmented reality


Contemporary artist Krista Kim recently sold an NFT-minted digital house for 288 ether, 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 role augmented reality will play in the world, he explained in an interview on CNBC’s “Squawk Alley.”

“At this time, many of the [NFT] art that is currently available on platforms is a very limited parameter of how art can be presented, “Kim said Wednesday.” It is 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, he said, will be able to upload the file to various metaverses (immersive 3D worlds) and experience digital real estate there. She said that Mars House represents the “next generation of NFT art.”

“For me, I actually envision that we will be living in an augmented reality lifestyle within a very short period of time,” Kim said, predicting that it could happen in “a couple of years.”

A view of the Mars House, a 3D NFT creation by Krista Kim Studios that recently sold out.

Artist: Krista Kim

The metaverse is an informal term used to describe a collaborative and immersive virtual world, and companies like Roblox and Fortnite maker Epic Games are working on the concept.

Augmented and virtual reality are key to providing a more immersive experience for these worlds. Augmented reality is a technology that superimposes computer-generated images on views of the real world, while virtual reality goes further in a complete virtual space. Both have historically been associated with some type of wearable glasses or headphones.

Facebook’s Oculus is a well-known brand that makes virtual reality headsets, and the social media giant’s CEO Mark Zuckerberg has predicted big strides around augmented reality and virtual reality in the next decade. Facebook plans to launch smart glasses later this year.

Microsoft has its HoloLens offering, and, Kim noted, Apple has long been rumored to be working on an AR product.

Kim sees a central role for NFTs as the so-called AR lifestyle advances.

“We are all going to be decorating our environments and our personal space, our fashion,” he said. “Just like tattoos. People express themselves with tattoos. It’s an art form. Well, people are also going to express themselves with digital assets and decorative and collectibles, fashion, accessories.”

A view of the Mars House, a 3D NFT creation by Krista Kim Studios that recently sold out.

Artist: Krista Kim

NFTs are blockchain-based assets that are unique by design, and their popularity has exploded in recent months. Among its most critical features, proponents say, is allowing documented ownership of digital items.

Ownership of a particular NFT is recorded in distributed digital ledgers known as blockchain, which are also used to power cryptocurrencies like bitcoin. A variety of assets are already being sold as NFT, including basketball highlights, old tweets, and a rock album. Recently, RTFKT Studios sold a collection of NFT-minted digital sneakers for the metaverse.

Historic auction houses known for selling multi-million dollar paintings have also entered the crypto fray. Last week, an NFT collage by artist Beeple sold at Christie’s auction for $ 69 million. On Tuesday, Sotheby’s announced a partnership with digital artist Pak.

Critics have dismissed the rise of NFT as a flash in the pan destined to fade over time, with some pointing out that their growing popularity, and what people are willing to pay for them, has coincided with a major increase in value. of many cryptocurrencies.

NFTs are “new to all of us,” Sotheby’s CEO Charles Stewart told CNBC on Tuesday. “But there are a lot of things here that are really exciting and we think it has staying power.”

Kim agreed, saying that “NFTs combined with art have a very strong value proposition because it appreciates in value over time because it is a social asset.”

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