Buyer spends £360,000 on virtual house in big step towards ‘augmented reality’

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If you’d spent £360,000 on a house you might expect to be able to live in it.

But Mars House, created by artist Krista Kim, only exists as a one-of-a-kind digital file, called an NFT.

It can only be seen on the owner’s screen, but that hasn’t stopped someone buying it for 288 Ether – a Bitcoin-style cryptocurrency that at the current exchange rate brings the price of Mars House to £360,490.25

Krista says it makes perfect sense to buy a virtual property, though, because humanity will “be living in an augmented reality lifestyle within a very short period,” suggesting it’ll only be a “couple of years” before we’re as comfortable in virtual spaces as we are in our bricks-and mortar homes.

She told CNBC: “We’re all going to be decorating our environments and our personal space, our fashion.

“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 pieces and collectibles, fashion, accessories.”

Mars House isn’t the only digital artefact that’s been sold as an NFT. American rock band Kings of Leon released their latest album “When You See Yourself,” earlier this month as a two-week limited edition.

A collage of photos made by digital artist Beeple is another one of this month's big NFT bargains. It sold at world-famous auction house Christies’s on March 11 for over £50 million at auction.

The buyer of the artwork, called “Power Lunch,” will receive “essentially a long string of numbers and letters,” Christie’s contemporary art specialist Noah Davis explained.

“It’s a code that exists on the Ethereum blockchain. It is a block in the chain that will be dropped into their Ethereum wallet.”

Grimes, the musician and girlfriend of Tesla and SpaceX entrepreneur Elon Musk, made almost £4.3 million in just 20 minutes from selling digital "cyptoart" online

Potentially the most impressive hourly rate for an NFT artwork sale is Twitter CEO Jack Dorsey’s sale of his first ever tweet.

His March 21, 2006, tweet “just setting up my twttr” is currently up for sale as an NFT on a website called Valuables, where the current highest bid is is a whopping $2.5 million from Sina Estavi, CEO of technology company Bridge Oracle.

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