Damien Hirst, art or business?

Art does not destroy. turns into money. This is what British artist Damien Hirst was thinking – and in fact believed – who, during the coming months of September and October, He will destroy, at the Newport Street Gallery in London, the thousands of paintings he created. The new event of the “terrible brat” of young British art is entitled “The Coin” (“The Coin”) and tries to take advantage of the already boring “boom” of cryptography. In 2016, Hearst painted 10,000 oil paintings on paper, and in 2021, he linked them to their corresponding NFTs. Both NFTs went on sale for $2,000. At the time of acquisition, the buyer was offered to keep the piece of cryptography or exchange it for physical work. If he chooses NFT, the physical board will be exposed and burned later. This is the dilemma any buyer must face: choose one of the two natures of every business – immaterial or material. WhyAs the rules of the “currency” game dictate, a work of art can only be sustained by one of them. According to the latest available data, 4,137 people had decided to exchange NFT for physical work, while 5,863 buyers had chosen to keep the encrypted version. So, from the opening of “The Coin” – on September 9 – until its closing – during the October week in which the Frieze exhibition is being held – nearly 6,000 paintings will be destroyed in a gesture that defies the conventional logic of the art market.

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