Damien Hirst NFT holders have 2 days to claim artwork
Only two days are left before “The Currency” artworks by Damien Hirst will be burnt.
“The Currency” is the first NFT collection created by well-known British artist Damien Hirst. In 2016, he started working on 10,000 physical paintings. Later, Hirst partnered with art-focused tech company HENI to create NFTs of these artworks. Finally, in July 2021, “The Currency” tokens were minted on the Palm blockchain, corresponding to unique physical artworks.
Holders had a year to decide whether to redeem NFTs for physical artworks or keep the digital ones. At the time of writing, only 3,620 were exchanged for physical paintings. The physical hand-drawn artwork will be destroyed if the remaining holders don’t redeem the other 6,380 NFTs.
The deadline to claim the artworks is July 27, 3 PM BST. NFT owners won’t have the possibility to exchange digital pieces for physical ones afterward. “The Currency” owners who wish to keep the NFT version don’t need to take action.
“The collector has to decide between the digital NFT or the physical artwork, but can not keep both. This exchange is a one-way process, so choose carefully,” explains the project website.
The physical pieces are currently stored in a secret vault in the UK. Notably, HENI and Damien Hirst will organize an exhibition of the artworks before they get destroyed.
The current floor price of “The Currency” NFTs is 5.13 ETH (approximately $7,700 at the moment of writing). 21.5K ETH has been traded so far.
Read related posts:
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]
More articles
Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]
