Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

Damien Hirst’s ‘Currency’ NFT drop more than 6X oversubscribed

Altszn.com by Altszn.com
July 22, 2021
in Crypto
0
Damien Hirst’s ‘Currency’ NFT drop more than 6X oversubscribed
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


Leading contemporary artist Damien Hirst’s NFT drop dubbed “The Currency” has been oversubscribed by more than six times.

The Currency drop consists of 10,000 unique colorful dot pattern artworks with a corresponding NFT for each piece. Applications for the NFT drop closed on July 22, and Heni Group, who hosted the sale, revealed that 32,472 people applied for a total of 67,023 NFTs. That means that many applications will either be scaled back or unsuccessful given there are only 10,000 NFTs available.

Many collectors will now have to seek out the NFTs on secondary markets.

Applications have closed for @hirst_official‘s The Currency. Thanks to all who applied. 32,472 people applied for a total of 67,023 NFTs. Due to the large number of applicants, allocations will take some time & applicants may not be notified until 28 July. Stay tuned for Phase 2! pic.twitter.com/BGDHTnPO2G

— HENI (@HENIGroup) July 21, 2021

The NFTs were priced at $2,000 each and the drop includes an interesting feature, as the artist is giving collectors one year to decide if they would like to burn the NFT in exchange for the original artwork, or keep the NFT and destroy the original artwork.

The world-renowned artist first entered the crypto space back in February this year after he started accepting payments in Bitcoin and Ethereum for artworks from a collection of cherry blossom-themed paintings.

In his new NFT venture, the artist is exploring the concept of value behind money and art, in which he asserts their value is determined by social phenomena such as faith and trust.

To loosely depict money in the artworks, there is a holographic image of Hirst in each piece, and a signature on the back, along with small individual messages to represent a serial number.

“I’ve never really understood money, it’s like you look at money, in its basic form […] all these things, art, money commerce, they’re all ethereal,” Hirst said in a video discussing the drop.

Check out this video of @stephenfry & I discussing ‘The Currency’: what is art, money, truth? how does it tie into belief? Maybe more importantly, what will people do with the Tenders? Nearing the end of the beginning. Applications close tomorrow 3pm BST. https://t.co/zync3gt29d pic.twitter.com/y9lnY1KY26

— Damien Hirst (@hirst_official) July 20, 2021

Related: Record network activity and a second NFT boom send WAX price higher

Each individual artwork is called a “Tender” and the artist recently told Cointelegraph that he would “love it” if a collector was able to use the artwork as actual currency due to its value as an NFT. However, he thinks that most people will choose to keep the artwork.

Speaking with CNBC’s Squawk Box on July 21, Hirst stated that he thinks digital art forms such as NFTs will outlive physical art galleries, as he noted that NFTs depicting “good artwork” can be easily experienced anywhere:

“I think that digital art is probably going to last a lot longer than galleries. I mean, you probably won’t be going into galleries. We’ll be sitting in bars showing each other what we’ve recently bought on our phones, and that’s kind of what we do now.”

‏‏‎ ‎





Read More: cointelegraph.com

Tags: BlockchainCurrencyDamiendropHirstsNFTOversubscribed
ADVERTISEMENT

Recent

Traders Are Turning to Ether (ETH): First Mover Americas

Traders Are Turning to Ether (ETH): First Mover Americas

December 6, 2023
Artists aim to thwart AI with data-poisoning software and legal action

Artists aim to thwart AI with data-poisoning software and legal action

December 6, 2023
Jetcraft Goes Beyond the Globe With New Virtual Reality Hangar

Jetcraft Goes Beyond the Globe With New Virtual Reality Hangar

December 6, 2023

Categories

  • Altcoins (265)
  • Bitcoin (8,365)
  • Blockchain (9,914)
  • Crypto (13,205)
  • Dark Web (816)
  • DeFi (6,575)
  • Ethereum (4,170)
  • Exchanges (421)
  • Metaverse (7,155)
  • Monero (492)
  • NFT (3,978)
  • Psychedelic Stocks (524)
  • Solana (3,509)
  • Web3 (14,693)
  • Zcash (459)

Category

Advertise

Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

Useful Links

Advertise
DMCA
Contact Us
Privacy Policy
Shipping & Returns
Terms of Use

Resources

Exchanges
Changelly
Web3 Jobs

Recent News

Traders Are Turning to Ether (ETH): First Mover Americas

Traders Are Turning to Ether (ETH): First Mover Americas

December 6, 2023
Artists aim to thwart AI with data-poisoning software and legal action

Artists aim to thwart AI with data-poisoning software and legal action

December 6, 2023

© 2022 Altszn.com. All Rights Reserved.

No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3

© Altszn.com. All Rights Reserved.

  • bitcoinBitcoin (BTC) $ 44,030.00
  • ethereumEthereum (ETH) $ 2,257.11
  • tetherTether (USDT) $ 0.999150
  • bnbBNB (BNB) $ 230.06
  • xrpXRP (XRP) $ 0.622543
  • solanaSolana (SOL) $ 63.05
  • usd-coinUSDC (USDC) $ 0.999780
  • staked-etherLido Staked Ether (STETH) $ 2,259.55
  • cardanoCardano (ADA) $ 0.444686
  • dogecoinDogecoin (DOGE) $ 0.101909
  • avalanche-2Avalanche (AVAX) $ 26.12
  • tronTRON (TRX) $ 0.104899
  • chainlinkChainlink (LINK) $ 15.60
  • the-open-networkToncoin (TON) $ 2.30
  • polkadotPolkadot (DOT) $ 6.02
  • matic-networkPolygon (MATIC) $ 0.831612
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 43,936.00
  • shiba-inuShiba Inu (SHIB) $ 0.000010
  • litecoinLitecoin (LTC) $ 73.32
  • daiDai (DAI) $ 0.997293
  • bitcoin-cashBitcoin Cash (BCH) $ 248.81
  • uniswapUniswap (UNI) $ 6.02
  • leo-tokenLEO Token (LEO) $ 3.76
  • stellarStellar (XLM) $ 0.123113
  • okbOKB (OKB) $ 56.77
  • moneroMonero (XMR) $ 172.31
  • kaspaKaspa (KAS) $ 0.137352
  • cosmosCosmos Hub (ATOM) $ 10.05
  • ethereum-classicEthereum Classic (ETC) $ 20.24
  • true-usdTrueUSD (TUSD) $ 0.997768
  • crypto-com-chainCronos (CRO) $ 0.095719
  • nearNEAR Protocol (NEAR) $ 2.28
  • filecoinFilecoin (FIL) $ 4.75
  • hedera-hashgraphHedera (HBAR) $ 0.066698
  • internet-computerInternet Computer (ICP) $ 4.84
  • aptosAptos (APT) $ 7.54
  • lido-daoLido DAO (LDO) $ 2.32
  • thorchainTHORChain (RUNE) $ 6.70
  • bittensorBittensor (TAO) $ 347.38
  • mantleMantle (MNT) $ 0.601438
  • vechainVeChain (VET) $ 0.025238
  • immutable-xImmutable (IMX) $ 1.36
  • quant-networkQuant (QNT) $ 110.81
  • optimismOptimism (OP) $ 1.75
  • binance-usdBUSD (BUSD) $ 0.999070
  • the-graphThe Graph (GRT) $ 0.163071
  • injective-protocolInjective (INJ) $ 17.56
  • celestiaCelestia (TIA) $ 10.01
  • blockstackStacks (STX) $ 1.03
  • render-tokenRender (RNDR) $ 3.82