A 12 months in the past this month, prolific and infrequently controversial artist, Damien Hirst, launched a grand NFT experiment. Via his ‘The Forex’ mission, he set about inspecting the idea of cash, each within the conventional sense and throughout the digital airplane.
To start with, Hirst minted his 2016 assortment of 10k technicolour artworks into NFTs residing on the Ethereum community. Then, carried out a grand sale the place parties bought the digital artworks for $2,000 apiece. The catch nevertheless, gave house owners the choice to redeem the NFT for its bodily counterpart, or, hold the token and see the unique burned. On the time, the venerable creator hypothesized that house owners would lean in the direction of the bodily element, reassured by the tangible nature of its existence.
Because the clock ticks down nevertheless, the outcome has turn into too near name. In the meanwhile of writing, 5,305 NFTs nonetheless stay, with customers redeeming at a fee of about 30 per hour, and solely 8 hours left on the clock. As well as, the OpenSea floor price now sits at a wholesome 6.3 ETH, with additional redemptions solely including to the shortage of the NFTs.
HENI & @hirst_official will current a novel exhibition of work from #TheCurrency, at Newport Road Gallery in London, opening on 9 Sep 2022.
The exhibition will showcase all remaining bodily artworks earlier than they’re finally destroyed🔥
— HENI (@HENI) July 26, 2022
As soon as the mud has settled, and house owners locked into their selections, Hirst will honor his preliminary promise in a grandiose exhibition beginning on September 9. True to his phrase, the grasp artist will host a gallery of the remaining bodily artworks at his non-public museum in London. Throughout proceedings, he’ll then forged their conventional kinds into the flames, lowering them to ashes. After which, they may solely exist throughout the depths of the impervious Ethereum blockchain, taking pleasure of place within the ether.
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