Physical Art Narrowly Wins Over NFTs in Damien Hirst’s Experiment

Physical Art Narrowly Wins Over NFTs in Damien Hirst’s Experiment

With the deadline for UK art superstar Damien Hirst’s The Currency NFT burn expired today, artwork owners were forced to answer a paramount question: do they wish to burn their NFT in exchange for the artist’s corresponding original work on paper, or keep the token? As it turns out, slightly more owners opted to drop digital art and receive it in a physical form.

Artist Damien Hirst at Tate Modern | Tate

Damien Hirst takes us through his 2012 exhibition at Tate Modern with curator Ann Gallagher.

Damien Hirst first came to public attention in London in 1988 when he conceived and curated Freeze, an exhibition in a disused warehouse which showed his work and that of his friends and fellow students at Goldsmiths College. In the nearly quarter of a century since that pivotal show, Hirst has become one of the most influential artists of his generation.

This is the first substantial survey of his work in a British institution and brings together key works from over twenty years. The exhibition includes iconic sculptures from his Natural History series, including ‘The Physical Impossibility of Death in the Mind of Someone Living’ 1991, in which he suspended a shark in formaldehyde.

Also included are vitrines such as ‘A Thousand Years’ from 1990, medicine cabinets, pill cabinets and instrument cabinets in addition to seminal paintings made throughout his career using butterflies and flies as well as spots and spins. The two-part installation ‘In and Out of Love’, not shown in its entirety since its creation in 1991 and ‘Pharmacy’ 1992 are among the highlights of the exhibition.

Tate Modern presented the first major Damien Hirst exhibition in the UK, which ran from 4 April – 9 September 2012.

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Damien Hirst’s ‘The Currency’ – An exhibition of NFTs and Paintings at Newport Street Gallery

In a characteristically entrepreneurial move, Damien Hirst has created 10,000 paintings on paper using multi-coloured dots. But there’s a twist. Buyers were offered the choice between keeping the originals or having a copy made as an NFT (non-fungible token) kept in virtual reality and registered on a blockchain. If a buyer chose an NFT instead of the painting on paper, Hirst would burn the original so that only the digital copy would survive. The Art Channel has now visited and filmed the exhibition. Join us for a discussion about art entering a new frontier. Can an artwork be interchangeable between a three dimensional object and a digital replica? How can the art market determine the value of an NFT? Are NFT’s interesting and exciting or simply a fashion and financial speculation? Would you choose an artwork made by hand or opt for a digital image?
#art #DamienHirst #Painting #NFT’s #exhibition #gallery #digitalart #artandtechnology

Damien Hirst to burn £10m of art and sell a digital ‘copy’

Artist Damien Hirst has decided to burn an estimated £10m of his art, before selling it again as digital NFTs.

Non-fungible tokens are digital representations of a work, that cannot be copied, substituted, or subdivided.

They are recorded in a blockchain that is used to certify authenticity and ownership, and to many are the latest thing on the art scene.

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Damien Hirst burns his 1,000 The Currency artworks

On 11 October 2022, Damien Hirst burned 1,000 of his own artworks as part of The Currency.

The Currency is a collection of 10,000 NFTs which corresponded to 10,000 unique physical artworks created by Hirst. Collectors were given a choice; to keep the NFT or exchange it for a physical artwork. Receiving the physical artwork required collectors to ‘burn’ their NFT, while those that opted to keep an NFT did so knowing that the corresponding painting would be burned.

Hirst decided to keep his 1,000 artworks in NFT form, which meant that the artist would, for the first time, have to burn his own art. During this special event, Hirst initiated the burn process by setting fire to each of his 1,000 paintings, one at a time.