{"id":305208,"date":"2021-07-22T07:19:29","date_gmt":"2021-07-22T04:19:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/damien-hirsts-currency-nft-drop-more-than-6x-oversubscribed\/"},"modified":"2021-07-22T07:19:29","modified_gmt":"2021-07-22T04:19:29","slug":"damien-hirsts-currency-nft-drop-more-than-6x-oversubscribed","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/damien-hirsts-currency-nft-drop-more-than-6x-oversubscribed\/","title":{"rendered":"# Damien Hirst&#8217;s \u2018Currency\u2019 NFT drop more than 6X oversubscribed"},"content":{"rendered":"<p>&#8220;<strong># Damien Hirst&#8217;s \u2018Currency\u2019 NFT drop more than 6X oversubscribed  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvMjAzOGU1ODItNzVmOS00OGRmLWE1NmEtYTM0NGJjMDUyM2EzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Leading contemporary artist Damien Hirst\u2019s NFT drop dubbed \u201cThe Currency\u201d has been oversubscribed by more than six times. <\/p>\n<p>The Currency drop consists of 10,000 unique colorful dot pattern artworks with a corresponding NFT for each piece. <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>lications for the NFT drop closed on July 22, and Heni Group, who hosted the sale, revealed that 32,472 people applied for a total of 67,023 NFTs. That means that many applications will either be scaled back or unsuccessful given there are only 10,000 NFTs available.<\/p>\n<p>Many collectors will now have to seek out the NFTs on secondary markets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Applications have closed for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hirst_official?ref_src=twsrc%5Etfw\">@hirst_official<\/a>&#8216;s The Currency. Thanks to all who applied. 32,472 people applied for a total of 67,023 NFTs. Due to the large number of applicants, allocations will take some time &amp; applicants may not be notified until 28 July. Stay tuned for Phase 2! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/BGDHTnPO2G\">pic.twitter.com\/BGDHTnPO2G<\/a><\/p>\n<p>\u2014 HENI (@HENIGroup) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/HENIGroup\/status\/1417861804873629698?ref_src=twsrc%5Etfw\">July 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The NFTs were priced at $2,000 each and the drop includes an interesting feature, as the artist is giving collectors one year to decide if they would like to burn the NFT in exchange for the original artwork, or keep the NFT and destroy the original artwork. <\/p>\n<p>The world-renowned artist first entered the crypto space back in February this year after he started accepting payments in Bitcoin and Ethereum for artworks from a collection of cherry blossom-themed paintings. <\/p>\n<p>In his new NFT venture, the artist is exploring the concept of value behind money and art, in which he asserts their value is determined by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> phenomena such as faith and trust. <\/p>\n<p>To loosely depict money in the artworks, there is a holographic image of Hirst in each piece, and a signature on the back, along with small individual messages to represent a serial number. <\/p>\n<p>\u201cI\u2019ve never really understood money, it&#8217;s like you look at money, in its basic form [&#8230;] all these things, art, money commerce, they&#8217;re all ethereal,\u201d Hirst <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.heni.com\/#the-currency\">said<\/a> in a video discussing the drop. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Check out this video of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stephenfry?ref_src=twsrc%5Etfw\">@stephenfry<\/a> &amp; I discussing &#8216;The Currency&#8217;: what is art, money, truth? how does it tie into belief? Maybe more importantly, what will people do with the Tenders? Nearing the end of the beginning. Applications close tomorrow 3pm BST. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/zync3gt29d\">https:\/\/t.co\/zync3gt29d<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/y9lnY1KY26\">pic.twitter.com\/y9lnY1KY26<\/a><\/p>\n<p>\u2014 Damien Hirst (@hirst_official) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hirst_official\/status\/1417461423584722953?ref_src=twsrc%5Etfw\">July 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Related: <\/strong><em>Record network activity and a second NFT boom send WAX price higher<\/em><\/p>\n<p>Each individual artwork is called a \u201cTender\u201d and the artist recently told Cointelegraph that he would \u201clove it\u201d if a collector was able to use the artwork as actual currency due to its value as an NFT. However, he thinks that most people will choose to keep the artwork. <\/p>\n<p>Speaking with CNBC\u2019s Squawk Box on July 21, Hirst stated that he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/07\/21\/nfts-may-outlast-physical-art-galleries-says-famed-british-artist-damien-hirst.html?utm_term=Autofeed&amp;utm_medium=Social&amp;utm_content=Main&amp;utm_source=Twitter#Echobox=1626875116\">thinks<\/a> digital art forms such as NFTs will outlive physical art galleries, as he noted that NFTs depicting \u201cgood artwork\u201d can be easily experienced anywhere: <\/p>\n<blockquote><p>\u201cI think that digital art is probably going to last a lot longer than galleries. I mean, you probably won\u2019t be going into galleries. We\u2019ll be sitting in bars showing each other what we\u2019ve recently bought on our phones, and that\u2019s kind of what we do now.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/damien-hirst-s-currency-nft-drop-more-than-6x-oversubscribed\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Damien Hirst&#8217;s \u2018Currency\u2019 NFT drop more than 6X oversubscribed &#8221; Leading contemporary artist Damien Hirst\u2019s NFT drop dubbed \u201cThe Currency\u201d has been oversubscribed by more than six times. The Currency drop consists of 10,000 unique colorful dot pattern artworks with a corresponding NFT for each piece. Applications for the NFT drop closed on July&#8230;<\/p>\n","protected":false},"author":1,"featured_media":305209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvMjAzOGU1ODItNzVmOS00OGRmLWE1NmEtYTM0NGJjMDUyM2EzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75159,95118,116,55649,117],"class_list":["post-305208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-digital-currency","tag-nft","tag-art","tag-artists","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/305208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=305208"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/305208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/305209"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=305208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=305208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=305208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}