Reimagining the way NFTs are used, The Currency is a collection of 10,000 NFTs which correspond to 10,000 unique physical artworks which are stored in a secure vault in the UK. The works are now brought to life through their launch on the blockchain.
Starting with the creation of the physical artworks in 2016, The Currency explores the boundaries of art and currency—when art changes and becomes a currency, and when currency becomes art. Successful applicants will all initially receive NFTs. Ultimately, you have to decide between the digital NFT or the physical artwork, both of which are artworks in their own right. Whichever you pick, the other gets burned.
The collection is on the Palm blockchain, which is a new token-powered ecosystem for NFTs connected to Ethereum. It is 99% more energy efficient than proof of work systems such as Ethereum or Bitcoin. It also has low gas costs and fast transaction finality.
Damien Hirst is a British artist whose name has become synonymous with contemporary art. Since his generative work as a student at Goldsmiths School of Art, Hirst’s production has been boundary‐redefining in nature. Working primarily in installation, painting, sculpture and drawing, Hirst explores the complex relationships between art, beauty, religion, science, life and death. He constantly returns to his foundational interests and themes, which he reworks to develop an innovative visual language.