What is worth more, the artwork or an NFT? This question has been on the mind of many collectors over the last year through Damien Hirst’s latest project with publishers HENI. “The Currency,” offered 10,000 unique NFTs to collectors who had to decide whether to keep the token or an original work on paper. The version that was not selected is to be destroyed and that deadline is nearly upon us.
Of the original 10,000 pieces sold, 5,149 buyers chose to keep their physical art, while 4,851 opted for NFTs. Backed by art-tech company HENI, the experiment “explores the boundaries of art and currency—when art changes and becomes a currency, and when currency becomes art.”
Gaining fame for his large-scale installations of preserved dead animals, his spots and skulls, Hirst says he is fascinated by the world of NFTs. The artist himself kept 1,000 of the NFTs and faced the same choice as his buyers - which to keep?
Hirst’s penchant for pushing the boundaries and exploring concepts can be seen within the project and not just through the physical or NFT artwork. Here we see the artist creating and toying with the idea of choice where decision making becomes an active part of the art and experience as he moves collectors of “The Currency” into a performance space.
“In the end I decided I have to keep all my 1000 currency as NFTs otherwise it wouldn’t carry on being a proper adventure for me,” he says on Twitter. “I decided I need to show my 100 percent support and confidence in the NFT world (even though it means I will have to destroy the corresponding 1000 physical artworks). Eeeeeek!”
Known for exploring the themes of death, religion, fear, beauty, science and the human condition Hirst is a fascinating artist whose works sit extremely well in any collection. Whilst well-known for its tendency to shock and eye for a spectacle. Hirst has previously spoken about his fascination with patterns which can be seen across his Sanctum series, The Currency and of course his seminal Spots.
“People are afraid of change, so you create a kind of belief for them through repetition. It’s like breathing. I’ve always been drawn to series and pairs. A unique thing is quite a frightening object,” Hirst once said.
Created original back in 2016, each of the works has its own title and slight variations in colour. Each also carries its own microdot which were used widely during World War II, are miniscule text or images shrunk down to about the size of a period that can be read when magnified.
NFTs have been a subject of great fascination and speculation in the tech and art worlds, leading to, or perhaps culminating in, a sale of one NFT for $69 million at Christie’s.
The art will be torched daily during the run of the event beginning on September the 9th, culminating in its closure during the London Frieze Week event in mid-October, when the remaining paintings will go up in smoke. Commenting on the outcome, the 57-year-old artist said:
“I believe in art and art in all its forms but in the end I thought f**k it! this zone is so f**king exciting and the one I know least about and I love this NFT community it blows my mind.”
For more information on our Damien Hirst signed prints for sale, contact Andipa +44 (0)20 7589 2371 or email sales@andipa.com .