Damien Hirst’s new NFTs could fetch $20 million as the art world becomes encrypted

Damien Hirst’s new NFTs could fetch $20 million as the art world becomes encrypted

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
Jack Dorsey
‘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.

The News Highlights

  • Damien Hirst’s new NFTs could fetch $20 million as the art world becomes encrypted
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Moonbeam, Uncomplicated Launcher, and DonorDrive are among the 8 new and interesting Android applications released this week (7/17/21)
Moonbeam, Uncomplicated Launcher, and DonorDrive are among the 8 new and interesting Android applications released this week (7/17/21)
Please wait for this page to load in full in order to see the widgets, which include ratings and pricing info. Looking for the previous roundup editions? ...
Cyclists pedaled to raise money for cancer research during the Empire State Ride on Long Island
Cyclists pedaled to raise money for cancer research during the Empire State Ride on Long Island
The event has already raised $90,000 and the amount is expected to grow. “There’s so much progress and more work to be done,” Mars says.The bike ride ...
How Brazil is reforming a public fund to finance broadband expansion
Guidelines on how to spend relief money in construction | local news
• To make necessary investments in water, sewer, or broadband infrastructure. • For the provision of government services to the extent of the reduction in ...
MORNING BUSINESS REPORT: Student loan is not worth it, help with internet account, large wind farm News
Georgia Approved Plan to Spend $1.4 Billion on Federal School Aid
Federal officials already distributed two-thirds of the $4.2 billion that Georgia schools received under the American Rescue Plan, the relief bill backed by ...
The Maharashtra government has issued rules for cell phone use in the workplace | Mumbai Mirror
The Maharashtra government has issued rules for cell phone use in the workplace | Mumbai Mirror
MUMBAI: The Maharashtra government has asked its employees to use office landlines for communication regarding office work whenever possible and to reduce ...
Hyped Robinhood IPO Is Here + Apple Earnings Hot Streak
Hyped Robinhood IPO Is Here + Apple Earnings Hot Streak
We will also look at consumer confidence in July. Money & Markets Week Ahead Week of July 28, 2021: The profit season is back in full swing.Shatter ...
I won’t miss the Touch Bar if it goes gone
I won’t miss the Touch Bar if it goes gone
Some thought the Touch Bar was a brilliant innovation, including a few here at Macworld. When the Touch Bar was unveiled, Macworld posted articles ...
Here’s what iOS 15 may tell us about the iPhone 13
The iPhone 13 is expected to be released on September 14th, featuring iOS 15 and 1TB of storage
Ives also thinks that the iPhone 13 will get a 1TB storage option. Currently the iPhone 12 Pro and 12 Pro Max top out at 512GB. Imagine how many photos and ...
Release Date, Games, Leaks, Departure, and Other Information
Release Date, Games, Leaks, Departure, and Other Information
The PlayStation Now games are always a big part of the month for Playstation owners. Giving new games and a reason to renew that subscription, there’s a lot ...
How about 'Monkey Business' in Clinton?
Evacuation order suspended after chemical spill at Texas plant
The evacuation order had remained in place within a half-mile (0.8-kilometer) radius of the plant, but that was lifted by midday Thursday. Dow Chemical said ...
Show next
Compsmag - Latest News from tech, business and health
Logo