Damien Hirst plans to burn thousands of his paintings in a project called The Currency.
The artist will destroy the pieces at his Newport Street Gallery in Vauxhall, London, next month.
Hirst, 57, completed 10,000 unique dot paintings in 2016, each linked to corresponding NFTs and sold for $2,000 (£1,663) each.
Buyers could choose to keep the NFTs or trade them in for the physical artwork. They were told, “The collector cannot keep both. This exchange is a one-way process, so choose carefully.”
At the time of writing, more than 4,000 people have chosen to exchange their NFT for a physical work of art. You only have one day to make up your mind before the deadline on Wednesday (July 27) at 3pm.
The remaining physical paintings that people have not decided on will be destroyed daily starting September 9th.
Hirst previously told The art newspaper that his project “touches on the idea of art as currency and a store of wealth.”
He said: “This project explores the boundaries of art and currency – when art changes and becomes currency and when currency becomes art. It is no coincidence that governments use art on coins and banknotes. They do this to help us believe in money. Without art, we have a hard time believing in anything.”
Many social media users were unimpressed by the concept.
One called it “pretentious,” while another added, “Donate to charity because they were sold too pretentiously?”
Hirst is considered the UK’s richest living artist, with an estimated fortune of US$384 million (£288 million). Sunday times Rich list 2020.
https://www.independent.co.uk/arts-entertainment/art/news/damien-hirst-burn-paintings-b2131768.html Damien Hirst wants to burn thousands of his paintings next month