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Artist Krista Kim has sold the first digital home, named Mars House, for over half a million dollars.
The house was sold as a non-fungible token, or NFT, for about $512,712 worth of ether, a cryptocurrency like bitcoin. The buyer received 3D files which can be uploaded to the metaverse. A metaverse is a virtual world similar to “SimCity” or “Minecraft.” In the metaverse, users can buy digital assets including homes, furniture and clothes while interacting with other users via an avatar. Janine Yorio, the head of the real-estate group Republic, said NFT real estate could be the future of home-buying. |
| Vocabulary | |
| non-fungible = something is unique and cannot be copied or replaced
avatar = an image that represents you in online games, chat rooms, etc. |
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