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ART & COLLECTABLES

Choose Between Physical and Digital Ownership of Damien Hirst’s NFT Collection

The renowned British artist will sell 10,000 works of digital and physical conceptual art, but there will be a catch.

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Damien Hirst has been working on a vast body of conceptual art for the past five years. Now, the artist has declared that he is ready to sell them in a hybrid NFT sale to the general public. Joe Hage, Hirst’s advisor, remarked, “Ten thousand artworks were created by hand, each one unique.” While each piece is unique, they are all manufactured of the same materials, are the same size, and are supposed to seem similar.

The objective of making these one-of-a-kinds yet eerily identical works of art, according to Hage, is to “produce art that was readily traded enough, in a somewhat frictionless environment.” Hirst has done something fairly unusual in the field of NFT to accomplish this.

Hirst came to the notion that a collection of connected works may conceivably function as a currency. But, according to Hage, “it is widely believed that money corrupts art.” So Hirst wanted to flip that idea on its head by making art with a fixed value and allowing it to corrupt money somehow.

The “Currency” Project by Damien Hirst

The art element of Hirst’s project, dubbed “Currency,” is now complete, and it’s time to start selling. This, however, will not be a typical NFT sale. As previously said, all of the artwork is on the same piece of paper and comprises the same multicolored dots that span the entire page, however, in many arrangements. Consider them like snowflakes: they all appear to be the same at first glance but are actually quite distinct.

Apiece of the 10,000 actual artworks will be signed, dated, and titled and sold for $2,000 each. On Heni.com, the art can be purchased in various currencies, including Bitcoin, Ether, and credit or debit cards. In addition, each work comes with a digital representation of the original piece attached to an NFT when purchased.

This is when things start to get fascinating and different.

Buyers of these NFTs will receive digital artwork and will be able to sell or trade it on Heni or Nifty’s online marketplaces. After two months, the owner can opt to “cash in” their NFT for an actual piece of artwork or keep it. In any scenario, the choice that was not selected will be obliterated.

Either the digital version of the “cashed in” NFT or the physical copy of the unclaimed work will be eliminated. Additionally, any piece that is unsold after a year will be sent to the incinerator.

The NFTs, according to Hage, who administers the Heni website, is not merely a reproduction of the physical piece, but “two artworks are made, the work on paper and the digital artwork.”

The sale is set up in such a way that the customers must choose which option they like. The sale itself, according to Hage, is a work of conceptual art, and the people who buy them are all participants.

Hage also claimed that while he watches the NFT market, Damien does not, and he is unconcerned about the open market value of his work. His sole genuine interest is in art.

ART & COLLECTABLES

Naomi Osaka’s NFT to Raise Awareness About Athlete Mental Health

An auction on Basic.Space will resell a rare NFT produced by tennis champion Naomi Osaka.

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In April, Osaka collaborated with her sister Mari on a six-piece collection. On Basic.Space, the first five were auctioned off. They sold for about $600,000 in total, with one fetching over $200,000. Meanwhile, the sixth Osaka NFT was raffled off to the general public. As a result, the NFT is now available for sale in a global auction by the winner of that raffle. The silent auction will begin on July 26 at 9 a.m. ET.

“Finding What Was Lost” is the title of the digital artwork being auctioned. Naomi’s favorite of the six, according to Osaka’s sister. The NFTs for the Osakas were developed on the Flow blockchain, which is best known for its NBA Top Shots NFTs.

Mental Health Awareness

A part of the net earnings will raise mental health awareness and assist athletes all across the world. Donations to NGOs like Athletes for Hope fall within this category. In addition, the money will go to the organization’s newly announced Whole Being Athlete initiative. The project’s goal is to encourage athletes while also raising mental health awareness.

Jason Belinkie, COO of Athletes for Hope, stated that athletes are battling with their mental health now more than ever. “With one in every five individuals being diagnosed with a mental illness, it’s become the most sought cause for advocacy, connection, and support from our athlete network,” he said. Belinkie expressed his company’s “pleasure” at assisting Osaka in “continuing this critical effort in the mental health space.”

The NFT Influence

According to Shea Newkirk, founder of CryptoStache.com, the sale of the piece has special relevance for sports NFTs. “While professional athletes have sold some huge NFTs in the last six months, Naomi Osaka’s constant and positive presence in the public spotlight will almost certainly propel this auction to a new NFT record,” he said.

Boxer Tyson Fury established the NFT sales record for an athlete last week, selling a single-edition piece for $987,000. Fury has a history of releasing NFTs, dating back to earlier this year. Patrick Mahomes, a football player, sold an NFT for $247,000 in March, which Rob Gronkowski later surpassed with a sale of $430,000.

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ART & COLLECTABLES

Physical and NFT Versions of Steve Jobs’ 1973 Job Application are up for auction.

Apple co-founder Steve Jobs’ 1973 employment application form is up for auction, with both physical and digital versions available.

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Steve Jobs’ 1973 handwritten application for an unknown job is up for sale once more. It’s unclear what position Jobs was applying for, where he applied, or whether he was hired. What is known is that this piece of paper has been sold for a large sum of money several times in recent years. It was sold for $18,750 in March 2017, $174,757 in 2018, and $222,400 in March 2021.

Jobs wrote the three-page application three years before he and Steve Wozniak co-founded Apple. Jobs is skilled with computers and calculators, but not so much with type machines, according to the application.

Physical and Digital Collectibles are Pitted Against Each Other Face-to-Face

The addition of a non-fungible token to this auction sets it apart from prior auctions. Both the original physical copy and a digital counterpart in the form of an NFT will be sold side by side, according to the listing. According to auctioneer Olly Joshi, the purpose is to see which version has the most value in the current market. In a statement, Joshi said, “The Steve Jobs hand-written 1973 job application auction intends to illustrate the modern shift in perceived worth — the physical or the digital.”

The auctions will take place on various platforms, with the digital edition available on Rarible and the physical version available on Joshi’s own website.

The auctions will last seven days and began on July 22 at 9:41 a.m. PT. That time was chosen because it was the time chosen by Jobs to unveil new Apple products at formal events, and it is also the time displayed on Apple product clocks.

The hard copy of the application currently has a price of $14,000, while the digital version has a bid of $635 at the time of writing. The Cancer Research Institute and the One Laptop Per Child organizations will each receive a percentage of the proceeds from the final sale.

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ART & COLLECTABLES

Dolce & Gabbana Will Debut an Exclusive NFT Collection

In collaboration with luxury marketplace UNXD, Dolce & Gabbana unveiled the first in a series of NFTs.

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Dolce & Gabbana has announced the debut of an exclusive NFT collection in conjunction with UNXD, a digital marketplace powered by the Polygon Network that aspires to be the premier destination for digital luxury and culture.

Collezione Genesi, or Genesis Collection, will be the fashion label’s debut NFT collection. The collection will be shown at Dolce & Gabbana’s upcoming Alta Moda, Alta Sartoria, and Alta Goilleria exhibitions in Venice at the end of August. According to the press release, the collection focuses on Venice’s deep-rooted artistic traditions.

L’abito Dei Sogni, or Dress from a Dream, is the first concept in the collection, inspired by a dream by Domenico Dolce and Stefano Gabbana. In the weeks leading up to the Alta Moda, Alta Sartoria, and Alta Goilleria exhibitions, other NFTs from the Collezione Genesi collection will be shown. All will be auctioned exclusively on UNXD.

Dolce & Gabanna’s NFT isn’t the first high-end brand to venture into the NFT industry. A few NFTs will be available from designers participating in Paris Fashion Week, with Gucci believed to be joining the NFT sector as well.

NFTs have stayed robust even as the prices of various cryptocurrencies have fallen, with more and more entries to the market. For example, LABS Group recently merged real estate with NFTs, allowing individuals to invest in its resort using the popular token technology. In addition, as more corporations, organizations, and foundations join the burgeoning market, artists like Muse have created more NFTs.

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