Damien Hirststarted burning his artworks after selling pieces from the NFT collection called The Currency.
Popular in the cryptocurrency market NFT ‘s are also at the focus of companies and artists. Those who want to keep up with technology are making moves on NFT. NFTs, which can be used especially visually and audibly, have an important place in the music and art industry. Artist Damien Hirst, whose works have sold millions, is among those who benefit from this power of technology.
Damien Hirst: “I Complete Their Conversion To NFTs By Burning Artifacts”
Damien Hirst has burned the physical equivalent of artworks for buyers of NFT pieces from his latest collection.
Hirst launched his first NFT collection, The Currency, last year, which consists of 10,000 NFTs equivalent to 10,000 original artworks. The artist told buyers to choose the physical artwork or the NFT that represented it. The Newport Street Gallery in London noted that 5,149 buyers selected original artworks and 4,851 selected NFTs.
The artist burned the physical parts corresponding to his works, which were sold as NFT. Collectively, the burned artefacts are estimated to be worth around £10m.
Damien Hirst, said the following about the burning of works of art:
“A lot of people think I burn millions of dollars of art, but I don’t. I complete their conversion to NFTs by burning these physical artifacts. The value of art, digital or physical, hard to define at best, will not be lost, it is transferred to NFT as soon as it is burned.”
