Artist Damien Hirst to burn 4851 paintings in NFT project
The millionaire artist will burn thousands of paintings for a unique NFT project
By Shashank Bhardwaj
Damien Hirst was declared the UK’s richest artist in 2020, with a net worth of more than $380 million. He is now starting a project called ‘The Currency’, which would involve burning thousands of his paintings, not as a protest or to make a statement.
In 2016, Hirst created 10,000 dot paintings with individual names that were later linked to their own NFTs in 2021 and sold for $2000 each. In order to protect his work, all the paintings have anti-counterfeiting techniques such as watermarks and holographic images of the artist. The buyers of these unique paintings were given until Wednesday this week to make an important choice of whether they wanted to keep the NFTs or trade it in for the physical painting. There was no option of keeping both. “This exchange is a one-way process, so choose carefully,” buyers were told. For those buyers who choose to give up the physical painting, the original artwork would be burned during the run of the event, starting from September 9 to mid-October in the London Frieze Week event.
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Meta tests sale of virtual goods in metaverseRead More..
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EU limits Russians' crypto investments to 10k EurosRead More..
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South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
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Germany closes Russian darknet marketplace HydraRead More..
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Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..