China is experiencing a boom in the NFT market and the Metaverse thanks to the artist Huang Heshan. His project TooRichCity is a virtual city made of 3D-rendered concrete and rustic, campy shop signs Huang collected in China’s lower-tier cities and villages.
He sold 310 “houses” — digital images of buildings in the form of NFTs, or non-fungible tokens, unique units of data stored on a blockchain — within two days for 400,000 yuan ($63,000), mostly to young buyers.
