Damien Hirst burnt his 1,000 NFTs (Non-Fungible Tokens).
A painting is a valuable possession. To create one masterpiece, artists devote their entire concentration. Imagine burning all that effort and hard work. Damien Hirst, a renowned British artist decided to put his most valuable paintings on fire. Not only that, but he live-streamed on social media while the artworks burned in the fire. Everyone was taken aback after watching this.
A video was shared by Mr Hirst on his official Instagram page three days ago. While posting the video, he wrote, “Tomorrow I will be burning my 1,000 The Currency artworks which I kept as NFTs (non-fungible tokens). A lot of people think I’m burning millions of dollars of art but I’m not, I’m completing the transformation of these physical artworks into NFTs by burning the physical versions.”
“The value of art digital or physical which is hard to define at the best of times will not be lost it will be transferred to the NFT as soon as they are burnt and I will be live-streaming the full burn here on Instagram. Tune in tomorrow at 12:30 pm BST,” added Mr Hirst.
After getting shared, the video attracted over 4.6 lakh views and more than 19,000 likes but still counting. Numerous users reacted in the post’s comment area.
“Interesting strategy of maxing the carbon footprint for this collection,” wrote one user.
“Either way you cut it your work is reduced to a tax-free way for pre-existing pools of money to change hands,” said another.
Realising the value of those NFTs a third user wrote, “How about don’t burn one and send it my way considering I’ll never be able to afford one.”
The artist also posted a picture of himself on his official Instagram handle after burning the artwork two days ago and wrote, “Finished the burn!!!”
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