Cryptocurrency: The Latest Architecture and News

Over the past year, NFTs have entered the realm of architecture, prompting conversations over the role of the profession in the future digital economy. From the design of digital real-estate to exhibitions and architecture events exploring its value for the practice and established architecture firms embracing the new medium, NFTs have been embraced by the profession as the promise of a new form of creative production. Discover a round-up of architecture's experiments with NFTs so far, together with a series of Archdaily articles shedding light on the topic.

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Nike recently acquired RTFKT, a design studio that was founded in Jan 2020, and is known for its virtual “metaverse-ready sneakers and collectibles”. Metaverse land purchases are making headlines with multi-million dollar price tags. We’ve also seen mainstream adoption for NFT art this year and the sales are expected to surge to $17.7 billion by the end of 2021.

Beneath the hype and frenzy, we can spot a fundamental shift that unlocks a new creator economy. It provides the creators with direct access to the market, builds ongoing relationships with fans, and unites strangers in self-governed communities. In this article, we will discuss why every 3D designer/architect should embrace the Web 3.0 movement to adopt a new business logic and benefit from the creator economy in the metaverse?

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Mars House designed in May 2020 by Artist Krista Kim, has become the first sold digital NFT home in the world. The 3D digital file that can be experienced in virtual reality, was just acquired. Rendered using Unreal Engine, a software used to create video games, the house can be experienced in VR, but could also be experienced through augmented reality (AR) environment in apps. A structure comprised of light, Mars House generates a healing atmosphere, with a musical accompaniment by Jeff Schroeder of The Smashing Pumpkins.

As an entry to the 2019 Evolo Skyscraper Competition, JCPOA Tower was designed to combine cryptocurrency mining with a water park. Created by Ilia Attarpour, Dadbeh Mohebbi Gilani, and Ramtin Taherian, the project considered the US economic sanctions on Iran and the geopolitical crisis around the country's currency devaluation and near economic collapse. The designers proposed a cryptocurrency mining tower under the cover of its secondary water park function. The skyscraper explores how sanctions can be manipulated as a way out of crisis.

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