In a bold move, Damien Hirst has eliminated 4,851 pieces from The Currency NFT collection.
In Brief
Damien Hirst and HENI have commenced the incineration of The Currency's artworks.
By October 30, 4,851 tangible artworks will be destroyed at Newport Street Gallery based in London.
The renowned British artist and entrepreneur Damien Hirst, along with the NFT platform HENI, recently hosted an event where artworks from The Currency were set ablaze.
The Currency comprises 10,000 unique NFTs, each linked to a physical artwork drawn by Damien Hirst. This project started in July 2021, giving holders a one-year window to decide decide if they preferred to retain the digital NFT versions or to claim their corresponding physical pieces. The central concept of the project is that the physical paintings connected to these NFTs would ultimately be destroyed.
Ultimately, 5,149 holders chose to receive physical artworks, while 4,851 opted for the NFTs. While 1,000 artworks tied to the NFTs have been incinerated already, there remain 3,851 waiting to follow suit. exhibited at Newport Street Gallery in London.
According to the project's website, 'Damien Hirst perceives The Currency as a living piece of art where individuals engage by purchasing, holding, trading, and exchanging the artworks.'
The exhibition will come to a close on October 30. All remaining artworks from the collection are set to be destroyed by October 28, with the burning taking place daily between 12:30 PM and 1:30 PM BST from Tuesday to Sunday. Notably, a number of NFT holders from The Currency have made arrangements to witness the destruction of the artworks, with October 29 and 30 earmarked for these guests.
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