How VR Company Spatial Became Airbnb for NFTs
Then, in January of 2021, something else happened. A Parisian artist named Yacine Aït Kaci tasked with building a virtual museum to celebrate the tenth anniversary of ELYX, a fully digital, sexless, nation-agnostic ambassador created by the United Nations. The artist, who occasionally goes to YAK, chose to host the museum’s virtual event on the Spatial app.
A few months ago, visual designer Jarlan Perez and contemporary video producer and sculptor Federico Clapis — whose sculptures in babies holding iPhones in utero and VR-headset-clad mothers holding invisible children is a confusing interpretation of the modern world — also entering the Spatial. They took the virtual spaces created by Spatial for corporate giants to explore PowerPoints or fiddle with 3D product renderings and instead created galleries for their artworks. And then they started selling NFTs.
The whole idea is uniquely abstract: Displays digital art, a beautiful or beautiful strange collection of ones and zeros, in a completely virtual atelier, also a series of ones and zeros. zero, and then sells it as a non-fungible blockchain-based token to a buyer who becomes non-physical possession the art, however, can, at least to a specific audience, prove that they have a unique copy of it. It doesn’t matter: Soon, 90 percent of Spatial NFT artists will be using the app’s virtual environments as exhibit venues.
The Spatial team reacted quickly, building what they claimed to be one-click options for artists to come together. Ethereum wallets, get their NFTs, and choose one of the many galleries to host an event. The app has become a virtual Airbnb for artists selling NFTs.
Not everyone in Spatial is on board; two of the company’s executive team bought into the mess, but most of the others had to be convinced. Also, Spatial does not share exactly how many users it currently has or count how many pieces of art have been sold, even though Loewenstein says there are individual success stories. Actor Tyrone Webb, for example, was able to sell his first 12 NFTs when he started performing on Spatial.
But some more corporate entities are also using Spatial to sell NFTs. In September, the Utah Jazz of the NBA sold 30 NFT collectibles and offered, as part of the purchase, exclusive access to a meet and greet with the team in a virtual locker room. The franchise hired contemporary artist Krista Kim and AR/VR designer Michael Potts to build the virtual locker room, which they built using Spatial.
“This is an opportunity for the Utah Jazz to make storefronts both physical and digital,” said Kim, who also created one of the first digital homes to be sold as an NFT, called. Home on Mars. “Here goes the future of these sports franchises. The star players don’t have to leave their homes, and everyone wins.
A business model where multibillion-dollar sports franchises use your software may not be a bad thing for Spatial — and probably not all that different from selling your software to Fortune 500 companies. In the future, Spatial plans to sell its own custom-designed virtual spaces as NFTs, or it could build an affiliate business where it can get a cut of the art it sells, Loewenstein said.
But there is enough fundamental skepticism around the NFT art market today to wonder if the Spatial pivot could be a bad luck. Some artists have suggested that their co -creators are sold at speculative value and the promise of honor above all things. Others expressed concern about true environmental toll There may be crypto-fueled art. At the AWE conference, where Loewenstein presented his case, some metaverse developers were less enthusiastic.