Damien Hirst burns 1,000 physical artworks from The Currency NFT series
Damien Hirst has begun burning 1,000 physical artworks from his NFT series The Currency at his Newport Street Gallery in London, a process he announced on Instagram. The burnings will continue daily until the exhibition closes on October 30, 2022. Hirst stated that he is completing the transformation of these physical works into NFTs by destroying their physical versions, arguing that the value is transferred to the digital tokens. The Currency series, launched in 2021, consists of 10,000 NFTs each corresponding to a unique physical artwork made with enamel paint on handmade paper, numbered, titled, stamped, signed, watermarked, and featuring a hologram. Collectors were given the choice to keep either the NFT or the physical piece; the swap period ended July 27, 2022, with 5,149 opting for the physical work and 4,851 for the NFT. Hirst documented the first burning session on Instagram with the caption "Finished the burn!!!" and described the experience as "better than I expected."
Key facts
- Damien Hirst is burning 1,000 physical artworks from The Currency series at Newport Street Gallery, London.
- The burnings occur daily until October 30, 2022.
- Hirst announced the burn on Instagram, stating the value transfers to the NFTs.
- The Currency series launched in 2021 with 10,000 NFTs and matching physical works.
- Physical works are enamel on handmade paper, numbered, titled, stamped, signed, watermarked, with a hologram.
- Collectors chose between NFT or physical piece; swap period ended July 27, 2022.
- 5,149 collectors kept the physical work; 4,851 chose the NFT.
- Hirst's Instagram post after the first burn read 'Finished the burn!!!' and he called it 'better than I expected.'
Entities
Artists
- Damien Hirst
Institutions
- Newport Street Gallery
Locations
- London
- United Kingdom
- Bristol