American graphic designer Kii Arens has created a piece of video art as an NFT that is being sold with a physical house in Thousand Oaks, California, that the piece is based on.
Arens created a 45-second video depicting a gabled house rendered in bright colours, which he is selling as an NFT-backed artwork.
221 Dryden Street comes free with the NFT. Photo courtesy of Shane Dulgeroff
The American pop artist and graphic designer was commissioned to create the video by real estate agent Shane Dulgeroff, who claims it will be the first time an NFT has been used to sell a real house.
"When I learned about the NFT space I saw a unique opportunity to utilise a platform which has more technologies and opportunity behind it than a standard home sale," Dulgeroff told Dezeen. "I immediately knew that I needed to be the very first person to explore this space."
Pop artist Kii Arens created a piece of video art based on the house
An NFT, or non-fungible token, is a piece of data stored on the blockchain that represents a digital file, often a piece of art or a video.
The tokens prove the piece is unique and not interchangeable ? non-fungible ? and hypothetically more valuable.
Bidders will make offers on this NFT, with the winner also receiving the 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 plot.
The artwork shows the house in Thousand Oaks in bright colou...