NFT illustration includes a physical house in California
American graphic designer Kii Arens has created an NFT-backed artwork that is used to sell a physical home in Thousand Oaks, California.
Arens created a 45-second video of a gable house rendered in vivid colors, which is sold as a work of art supported by NFT. The purchaser of the artwork will also receive the physical home on which the artwork is based.
The American pop artist and graphic designer was commissioned to create the video work by a real estate agent. Shane Dulgeroff, which claims this will be the first time an NFT has been used to sell a real home.
“When I discovered the NFT space, I saw a unique opportunity to use a platform that has more technology and opportunities behind it than a standard home sale,” Dulgeroff told Dezeen .
“I knew right away that I had to be the very first person to explore this space.”
An NFT, or non-fungible token, is a piece of data stored on the blockchain that represents a digital file, often a work of art or a video.
The tokens prove that the coin is unique and non-interchangeable – non-fungible – and hypothetically more valuable.
Bidders will bid on this NFT, with the winner also receiving physical property at 221 Dryden Street.
The house is divided into two rental units, each with two bedrooms, with permission to build a third unit on the land.
Along with the house, the highest bidder will obtain the exclusive rights to the sci-fi video art work.
The digital-only architecture has already been sold on the blockchain as NFT, the Mars House sold for $ 500,000.
However, Dulgeroff believes NFTs could become a viable way to sell architecture to the physical world, not just the metaverse.
“I think the NFT space may change the structure of transactions and architectural trends due to the viral nature and additional technologies available in the space,” Dulgeroff said.
Dezeen architecture critic and columnist Aaron Betsky had previously predicted that NFTs would prove attractive to real estate professionals looking for new ways to market their assets with viral stunts.
“Perhaps the real role of the NFT will be in producing images that extend the digital renderings that developers produce of their luxury condos before they are built,” Betsky said.
“What we’ve gotten so far are amateur, improvised sketches that don’t make sense to push our idea of what a crafted object is.
But animation artist Andreas Wannerstedt told Dezeen it was too early to judge the amount of avant-garde work produced in the new market.
“It will be some time before the world understands the true power of NFTs, but being able to create a single digital file opens many doors,” he said.
Architect Chris Precht said he was disheartened by the “horrific” environmental impacts of NFTs, which are part of the electricity-hungry cryptocurrency system.
“Just for [mint] one token through the blockchain equals the same amount of electricity that I usually use in a month, ”he said.
As for the house in the San Gabriel Mountains, there have been no offers so far, but Dulgeroff is reporting a lot of interest from potential buyers – and from the press.
“It’s a world first, so people are extremely curious and some are not yet 100% sure how to perceive it,” he said.
Images by Kii Arens unless otherwise noted.