Revelation: Damien Hirst Faces Criticism Over NFT Project
Recent reports have shed light on controversial artist Damien Hirst, alleging that he retroactively dated over 1,000 pieces of art from his NFT venture “The Currency,” as revealed by The Guardian.
Renowned for his provocative works, including pieces featuring animals preserved in formaldehyde, Hirst stands accused of misrepresenting the creation dates of approximately 10% of the 10,000 physical paintings associated with “The Currency,” all corresponding to a linked NFT.
- Hirst launched “The Currency” in 2021, selling each physical painting for $2000.
- He claimed that all the physical paintings were meticulously crafted by hand in 2016.
However, investigations suggest that these spot-painted works were actually mass-produced by a team of nearly twelve artists in the U.K. between 2018 and 2019, following a streamlined production process akin to a “Henry Ford production line.”
More Damien Hirst artworks created years later than claimed, investigation finds https://t.co/075Ly2JVU3 #nft #nftnews #nfts
— Kyked (@kykednft) May 23, 2024
According to insider accounts shared with The Guardian, the production of these works was labor-intensive and led to physical strain injuries among the team due to the repetitive nature of the process.
Evidence from footage captured inside Hirst’s studio in 2019 corroborates these claims, casting doubt on the authenticity of the artist’s narrative regarding the production timeline.
Although Hirst’s legal team refrained from outright denial, they clarified that the 2016 timestamp associated with “The Currency” reflects the conceptual inception of the project rather than the individual creation dates of each artwork.
The Incineration of Physical Counterparts of Damien Hirst’s NFTs
Individuals who acquired pieces from “The Currency” had the option to retain either the physical painting or the corresponding NFT, but not both. In a controversial move in 2022, Hirst opted to burn the physical versions of artworks selected by NFT holders, effectively digitizing the value associated with each piece.
- Hirst addressed concerns surrounding the act of burning physical artworks in an interview with the BBC,
- Where he clarified his intention to complete the transformation of these pieces into NFTs through the incineration process.
Backdating, the practice of assigning an inaccurate date to an artwork reflecting its creation, is frowned upon within the artistic community due to ethical implications.
This isn’t the first instance of Hirst facing allegations of falsely dating his creations, as a previous exposé by The Guardian in March uncovered that three of his formaldehyde sculptures purportedly from the 1990s were actually produced in 2017.
If proven true, these accusations could tarnish Hirst’s already controversial reputation, raise doubts regarding the integrity of his body of work, and potentially impact the value associated with his NFT initiative.
Hot Take: Evaluating the Impact of the Hirst NFT Controversy
Given the recent revelations surrounding Damien Hirst and his NFT project, it’s crucial for collectors and enthusiasts to contemplate the implications of these allegations:
As the art world grapples with questions of authenticity and integrity, artists and investors alike must scrutinize the practices and narratives shaping the NFT market.
Transparency and accountability are paramount in maintaining trust and credibility within this evolving landscape.
Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension. Guiding both seasoned navigators and curious newcomers, Wyatt’s insights serve as a compass for astute decision-making amidst the ever-shifting currents of cryptocurrencies. With the artistry of a linguistic craftsman, they skillfully craft narratives that enrich the evolving tableau of the crypto landscape.