This is why Damien Hirst is setting his art on fire



Britain’s Damien Hirst began burning a whole bunch of his artworks on Tuesday after collectors selected to maintain their non-fungible tokens (NFTs), blockchain-based property representing their digital photographs, as an alternative.

Hirst, who discovered fame amid the Nineties Young British Artist scene, launched his first NFT assortment “The Currency” – 10,000 NFTs comparable to 10,000 unique artworks depicting vibrant spots – in July 2021.

Collectors had to decide on between holding the NFT, which reportedly bought for US$2,000, or swapping it for the bodily art work. Some 5,149 picked the latter whereas 4,851 opted for the NFTs, in accordance with London’s Newport Street Gallery.

It stated artworks for non-exchanged NFTs could be destroyed and vice versa. Hirst instructed his Instagram followers on Monday he would burn 1,000 artworks on Tuesday.

Livestreaming the occasion, the Turner Prize winner and assistants used tongs to deposit particular person items stacked in piles into fireplaces within the gallery as onlookers watched.

“Lots of people assume I’m burning tens of millions of {dollars} of art however I’m not, I’m finishing the transformation of those bodily artworks into nfts by burning the bodily variations,” Hirst wrote on Instagram on Monday.

“The worth of art digital or bodily which is onerous to outline at one of the best of occasions is not going to be misplaced will probably be transferred to the nft as quickly as they’re burnt.”

The artworks, created in 2016 with enamel paint on handmade paper and every numbered, titled, stamped and signed, will probably be burned till “The Currency” exhibition closes on Oct. 30.

NFTs soared in recognition final 12 months as crypto-rich speculators sought to money in on rising costs however gross sales volumes have fallen extra lately.

Hirst, 57, is identified for his divisive works, which embody “The Physical Impossibility of Death in the Mind of Someone Living”, consisting of a useless shark floating in formaldehyde and “Mother and Child, Divided”, a bisected cow and calf.

He is additionally well-known for his spot work and “For The Love Of God,” a platinum forged of an 18th-century human cranium encrusted with diamonds.

Asked how he felt to be burning the works, Hirst stated: “It feels good, higher than I anticipated.”

Reporting by Marie-Louise Gumuchian, further reporting by Will Russell; Editing by Emelia Sithole-Matarise


Please enter your comment!
Please enter your name here