How VR Company became Airbnb for Spatial NFT

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Then, in January 2021, something else happened. Called an artist in Paris Yacine Aït Kaci was responsible for building a virtual museum to celebrate its tenth anniversary ELYX, A fully digital, genderless and nationally-agnostic ambassador created by the United Nations. Sometimes the artist who attends the YAK chose to organize the virtual museum event in the Spatial app.
A few months later, visual designer Jarlan Perez and contemporary video producer and sculptor Federico Clapis — his sculptures. babies holding iPhones in the womb and wearing a VR headset mothers holding invisible children in their hands they are a violent interpretation of the modern world, even embedded in space. Spatial took virtual spaces built for giant corporations to view PowerPoint or play with 3D product renderings and created galleries for their artwork. And then they started selling NFTs.
The whole notion is incredibly abstract: showcasing digital art, a beautiful or beautifully unique set of one and zeros, in a fully virtual studio, even a set of one and zero, and then selling it as a non-fungible token based on a blockchain. a buyer who may not be physically fit content art, but it can prove to at least one particular audience that it owns a single copy of it. It’s the same: soon, 90 percent of Spatial users were NFT artists using the app’s virtual environments as an exhibition space.
The Spatial team reacted quickly, building what they say are one-click options for integrating artists Ethereum portfolios, enter NFTs and choose from a variety of galleries to organize an event. The app became a virtual Airbnb for artists selling NFTs.
Not all the spacecraft was on board; two of the company’s executive team bought it insanely, but had to convince most of the others. Moreover, Spatial has not specified how many users it currently has, nor how many works of art have been sold, although Loewenstein says there are individual success stories. Artist Tyrone Webb, for example, was able to sell his first 12 NFTs once he started exhibiting at Spatial.
But other corporate entities are also using Spatial to sell NFTs. In September, the NBA Utah Jazz sold 30 NFT collections and, as part of the purchase, offered exclusive access to the group’s virtual locker room to meet and greet. The franchise hired contemporary artist Krista Kim and AR / VR designer Michael Potts to build the virtual locker room, which was built using Spatial.
“This was an opportunity for the Utah Jazz to create showcases that are both physical and digital,” says Kim, who also created one of the first digital houses to be sold as an NFT. Mars House. “That’s where the future of these sports franchises will go. The star players don’t have to leave home, and everyone wins. ‘
New Money
A business model in which billion-dollar sports franchises use your software may not be bad for Spatial, and it may not be that different from selling your software to Fortune 500 companies. In the future, Spatial plans to sell its custom-designed virtual space as NFT, or build an affiliate business where it gets a piece of the art it sells, Loewenstein said.
But there’s enough grounded skepticism about the NFT art market right now to reflect on whether Spatial could be an unfortunate pivot. Some artists have suggested that they are their founding members it is sold at speculative value and the promise of prestige more than anything else. Others have appeared concerned the actual environmental toll it could be cryptography-fed art. At the AWE conference, where Loewenstein was presenting his case, some of the developers of the verse were less than enthusiastic.
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