Digital Land Rush Has People Spending Big on Imaginary Real Estate realtor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from realtor.com Daily Mail and Mail on Sunday newspapers.
The Curious World of NFT Real Estate and Design
People are selling and buying art, furniture and even houses and land that exist only virtually.
Mars House, a digital house designed by the artist Krista Kim, sold for an amount equal to $512,000.Credit.Krista Kim
May 25, 2021, 5:00 a.m. ET
It’s not uncommon for people to buy vacation homes they may only visit a few times a year. What about a home you never visit? And that doesn’t actually exist?
The market for digital files sold as “nonfungible tokens,” or NFTs, has exploded this year, most notably when an artwork by Beeple sold for $69.3 million at an online auction held by Christie’s in March. But real estate, architecture and design are also booming in the virtual marketplace.
Eight outlandish items jumping on the NFT bandwagon
From a picture of a twig to a golden Pringles can, we ve rounded up eight NFTs that are trying take advantage of the hype around the blockchain technology.
Non-fungible tokens (NFTs), which can be used to sell digital assets such as jpegs and mp4s, have exploded in popularity following a number of high-profile, multi-million dollar sales.
That s because attaching one of these tokens to a file effectively acts as a blockchain-based certificate of ownership, allowing it to be authenticated, bought and collected.
However, with large sums of money seemingly up for grabs, NFT marketplaces such as OpenSea, Rarible and Nifty Gateway have increasingly been flooded with projects that are hoping to cash in on the boom.
NFT: Die Kryptowelt entdeckt den Immobilienmarkt handelsblatt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from handelsblatt.com Daily Mail and Mail on Sunday newspapers.