DAMIEN HIRST "THE CURRENCY"

Artist, Damien Hirst new artwork “The Currency” is now open for applications, it’s open for one week from 3pm yesterday at Heni.com. There are 10,000 NFTs that correspond to 10,000 unique physical artworks.

From Damien Hirst Instagram -

The successful applicants will be notified in the 7 days commencing 21st July 2021, and if you are successful, you will have 48 hours to complete your purchase. Each NFT is US$2,000. The NFTs should be sent out from 29th July.

If you are successful you will first receive an NFT and two months after that you will be able to exchange it for an original painting. I call each artwork (whether NFT or physical artworks) Tenders, because they feel a bit like legal tender, and because I’m a gentle soul and because it sounds like a tenner.

Just to reconfirm you can own either an original artwork or an NFT for your US$2,000, but you ultimately have to decide which you want as you can’t have both. Everyone who receives the NFT will after two months be able to exchange the NFT for the painting if they want to.

Once you’ve done this though, it’s done forever, you can’t change it back as the NFT gets burnt during the exchange process. The offer to exchange your NFT for physical artwork is open for a year (until 3pm BST 27th July 2022). After the first two months, you can decide to change your NFT for a physical artwork at any point up to 3pm BST 27th July 2022. If you have already sold your NFT before then, the right to get the physical artwork would pass with that NFT to the new owner (assuming time had not expired for the exchange). Full details and explanations are on Heni.com.

At the end of the first year we will publicly display all the unredeemed physical artworks and then destroy them. Ultimately there will either be 10,000 NFTs or 10,000 physical artworks or a mix of NFTs and physical artworks.