Someone very rich (or dangerously insane) just spent more than $500,000 to purchase an NFT of a virtual home. “Mars House” is a piece of digital artwork by Techism artist Krista Kim.
What will the buyer do with it? Most likely place the home in a metaverse: a virtual world where people routinely buy and sell virtual real estate, goods, and services.
This has been quite a week for NFTs. Christie’s auctioned off an NFT of Beeple for more than $69 million, Jack Dorsey auctioned off a file of his first tweet for over $2.9 million, and my friend Harry made an NFT of a fingerpainting his four-year-old son did in preschool and sold it for $135.
Are people high on NFTs or just high?
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Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it. I am not a financial advisor. Nothing in this article should be considered financial advice. If you are considering any type of investment you should conduct your own research and, if necessary, seek the advice of a licensed financial advisor.