The last few years have seen tremendous overhauls not just in the manner in which we live our lives but also in the way we communicate, work, spend our time and even invest. And a big addition in 2021-22 was not just the COVID vaccine but also a huge push towards digital money, bitcoins, crypto, NFTs, and of course Metaverse. A whole new world seems to be unfolding each day as we get immersed in the digital world more and more.
Did you know as per reports, real estate deals in Metaverse exceeded $500 million in 2021 and are expected to double in 2022? Recently, MetaMall - the metaverse of high-end real estate, incepted in 2021, has sold more than $1 Mn of land as NFTs in its virtual skyscraper shopping mall, within 7 days of its release. These NFTs can be used to build stores, experience centers, arenas for VR experiences which can further be rented or staked to earn revenue.
Recently, we also heard about James Law, Founder of James Law Cybertecture International being named the Chief Architect of Satoshi Island, slated to become the crypto capital of the world. The construction will be done using sustainable smart modules which can be combined and placed into hundreds of positions to create different amenities, homes, etc. And to top it all, anyone can own a piece of the island by acquiring Satoshi Island Land NFTs that can be bought and sold easily, without any of the complications associated with the transfer of the traditional real estate.
What does NFTs mean for architects and designers? NFT stands for non-fungible tokens or digital files. Authenticated Architectural renderings, Furniture designs, Graphic designs etc can be made available for sale on blockchain where they can be minted, bought, and sold using cryptocurrency. They can be bought and sold over online art marketplaces.
Gaming Architecture is another field that is generating a lot of interest. Last September Zaha Hadid Architects entered the virtual gaming world. The firm has partnered with the popular video game PUBG Mobile, to bring exclusive and cutting-edge designs to their map updates.
The Good thing is, there are lots of non-traditional opportunities to explore. Does that mean, hand sketching, traditional architectural work is out, not at all? This will just be an addition to what we already do. Albeit! Chaotic but exciting times I say :)
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