Invest in Damien Hirst

Welcome to NFT Insider, bringing you NFT investment ideas worth exploring.

This week we explore an NFT drop by world-renowned modern artist Damien Hurst.

Damien Hirst’s The Currency

by Heni
Available until 21 July

About the creator

Hirst dominated the British art scene in the 1990s and is reportedly the UK’s wealthiest artist with a net worth of $384.

Perhaps his most famous piece is The Physical Impossibility of Death in the Mind of Someone Living, which is a dead tiger shark preserved in formaldehyde.

This sold for $8m+

Many of his words revolve around the notion of death, though the piece we’re talking about today seems to be a divergence from that.

About the drop

Importantly, today 21 July 2021 is the last day you can apply to buy one of these items. If you’re interested, go to the project’s site asap.

Hirst has created a series of 10,000 pieces of art that are composed of hundreds of dots each. Each piece of physical art corresponds with one NFT.

The pieces were created by hand in 2016 and each is uniquely numbered and titled.

Two months after you purchase the NFT, you have to choose:

  • Keep the NFT
  • Get the physical artwork

Either the NFT or physical piece will be destroyed, depending on your decision.

Hirst expects most collectors to keep the artwork.  

Price

Each of the 10,000 pieces will sell for $2,000, which is a cool $20m to Hirst, for those keeping score at home.

How to buy them

The application period to secure one of the 10,000 pieces ends today, 21 July 2021. After the application period is over, successful applicants will be selected and asked to verify their identity. NFTs will start going out 29th July 2021.

Verdict

3/5

This is a super interesting project, and Hirst is an A** artist, but 10,000 is a lot of pieces of art. The value here might accrue to those keeping the NFTs.


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Author

Stefan Von Imhof

Stefan Von Imhof

Stefan lives and breathes asset analysis and valuations. Before founding Alts, he was the Head of Product at Flippa, he created and ran Flippa's Due Diligence Program, and has bought & sold dozens of websites & newsletters. Prior to Flippa he was the first product manager at HG Insights, a market intelligence company which sold to Riverwood Capital Partners. Originally from Boston and later Santa Barbara, CA, he now lives in Australia with his wife & Boston Terrier, Charlie.

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