Don't miss the latest stories
Advertise Newsletter
Network
  • The Creative Finder
  • The Bazaar
  • Deals
  • Trendingger (BETA)
Community
  • Sign up / Log in
  • Discussion Forums
  • Calendar of Events
NEW

Follow

Share this

NFT
Art
Artificial Intelligence
Creativity
Digital Art
Illustration
Pop Art
More
  • Technology
  • Microsoft
  • Furniture Design
  • Creativity
  • Digital Art
  • Illustration
  • Pop Art
  • Technology
  • Microsoft
  • Furniture Design
MENU
  • Advertise with us
  • Submit tip/feedback
  • Work with us
  • Subscribe to newsletter
  • Subscribe to RSS
Advertise here
Advertisement

Damien Hirst Rolls Out 10,000 NFTs Each With A Choice Of Digital Or Paper

By Alexa Heah, 15 Jul 2021

Subscribe to newsletter
Like us on Facebook

Image via HENI

Damien Hirst has launched a new project, named The Currency, his first NFT-based collection.

It comprises 10,000 non-fungible tokens (NFTs) that correspond to 10,000 unique works on paper, created back in 2016. The spotted works take inspiration from Hirst’s earlier paintings in the 1980s, and are currently being held in a “secure vault somewhere in the United Kingdom.”

The NFTs will go on sale on a new platform named Palm, which is said to be 99% more energy-efficient than Ethereum or Bitcoin, as per Artnet News.

Each of the NFTs has its own unique title, created through machine learning based on a database of the artist’s favorite song lyrics. Some works include Totally Gonna Sell You, Wet Moving Mirror, and Grandfathered to the Gang. While the pieces may look similar, no two works are the same, with each individually numbered, signed, and stamped by Hirst with a microdot and hologram portrait of himself.

However, Hirst’s NFTs come with a difficult choice. The buyer can choose to keep the NFT or exchange it for a physical work on paper. They’re given one year to make their decision, and those who don’t opt to exchange their NFTs before July 27, 2022, will see the corresponding artwork burned.

Advertisement
Advertisement


Hirst said this project “challenges the concept of value through money and art,” and forces consumers to address “their perception of value, and how it influences their decision.”

Everyone’s perception is inherently different, with some valuing the physical artwork well beyond the NFT, and others believing the digital token is the more valuable asset.

Collectors can apply for the NFTs starting this week, with the distribution beginning on July 29. Each NFT retails for US$2,000, and can be paid for in fiat money, Bitcoin, Ethereum, or just good ol’ credit. For more information on the project, head over here.





[via Artnet News, cover image via HENI]
Receive interesting stories like this one in your inbox
Advertise here

More related news

Advertise here
Also check out these recent news
Microsoft
Link to news page

Microsoft Recreates Its Birthplace With 70s-Era Garage Fitted With Modern Tech

Furniture Design
Link to news page

Tomorrowland Morphs Into Home Décor With Its First Furniture Line

Creativity
Link to news page

Designs That Stood Out At The 2024–2025 A’ Design Awards And Deservedly Won

Barbie
Link to news page

Barbie Unveils First Ken Doll Styled By Fashion Designer, Created By KidSuper

Art
Link to news page

Dalí Gets A Phone Number You Can Dial To Wish Him Happy Birthday Or Simply Chat