First NFT Virtual Vacation Home Lists for Over $1,000,000
Newport House created by B[o]MB Designs is placed for sale for $1 million worth of Ethereum cryptocurrency on Opensea.io, CrowdStrat reports
Newport House, a new NFT creation designed by U.S.-based designer B[o]MB, has been listed on OpenSea as the first NFT virtual vacation home. Placed available for sale for over $1 million worth of Ethereum here, if purchased for its asking price, Newport House will make history in the world of architecture NFTs. Earlier this year, Mars House, the first virtual house NFT, sold for more than $500,000 paid in Ethereum, the world’s second-largest cryptocurrency by market capitalization. “The designer aspires to see Newport House just adding momentum to the movement,” said Miguel Aparicio from CrowdStrat, representing the U.S.-based designer behind B[o]MB Designs.
The market for NFTs (Non-Fungible Tokens) is growing exponentially, and the art and architectural worlds are claiming a rising share in this market. From digital art sold by Sotheby’s to Beeple’s artwork NFT selling for $69 million through an auction at Christie’s, not forgetting Gary Vaynerchuk’s NFT collection, a new world of tokenized virtual assets is drawing the attention of deep-pocketed investors.
Many of the world’s largest brands and household names in different industries are exploring NFT opportunities. “B[o]MB believes that NFTs are the future of art, gaming, brands, and culture,” Aparicio said. “With Newport House and other creations that he intends to present over time, he wants to help raise awareness about NFTs so that the number of people interested in these assets increases by 100 million people or more,” the representative further stated. The popularity of NFTs is growing both as a way for creators to sell their art and for investors and traders to place a bet on their value.
Speaking about Newport House and its work as an artist, the Washington State-based designer’s representative said, “B[o]MB believes that since we are already used to residing in virtual spaces through movies and video games, Newport House can be the ultimate destination that someone could own and return to anytime they wanted.” The designer’s hope is to find the right collector who appreciates Newport House and values it as a historically significant piece.
One of the key value propositions of this new asset is that, regardless of how many images of Newport House may exist, only one person or institution will be able to claim ownership of the actual Newport House NFT. B[o]MB Designs also has surprise NFTs that will be minted just for the first owner of Newport House. The designer intends to keep producing virtual homes and plans to use proceeds from sales to develop some concepts as real-life vacation home projects.
B[o]MB can be found on Twitter. The NFT listing is available here, where buyers can make offers for the house.