NFTs are digital files like JPEGs or video clips that live on a blockchain, where they are authenticated by a network of computers and their ownership can be tracked and verified. The NFTs will cost $2,000 and be available for purchase starting on July 29 through the online art marketplace Heni. Read more: Insiders Are Growing More Confident About the Art Market
Blurring the lines between physical and digital art, Hirst is launching a project called The Currency. It consists of 10,000 NFTs that each correspond to physical prints that Hirst created five years ago and are stored in a vault in the United Kingdom. British artist Damien Hirst could rake in $20 million from a new set of NFTs, or nonfungible tokens.
The physical works are spot paintings with titles generated from machine-learning applied to song lyrics. Each piece is individually numbered and signed by the artist, and features a hologram containing a portrait of Hirst. Stephane De Sakutin/AFP via Getty Images
(ticker: DKNG), meanwhile, is launching an NFT marketplace for sports collectibles. A new movie with Anthony Hopkins, Zero Contact, is slated to premiere this summer on an NFT and video platform called Vuele. Hirst has come up with a twist on the NFT market, however: He’s forcing buyers to choose between digital and physical art. DraftKings
Bands like Kings of Leon are now releasing albums as NFTs. And tweets have gone for big bucks—notably the $2.9 million paid for Twitter CEO
‘s first tweet. NFTs are surging in popularity in the art and music worlds. An artist known as Beeple sold a single JPEG in the form of an NFT for $69 million in March through an auction at Christie’s, surpassing record prices for works by classic artists such as Georges Seurat and Francisco Goya.
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