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Damien Hirst Burns Artworks After Collectors Pick NFTs (Tokens) Instead
Damien Hirst takes part in a burn event which is part of his latest NFT exhibition Britain's Damien Hirst started burning hundreds of his artworks on Tuesday after collectors chose to keep their non-fungible tokens (NFTs), blockchain-based assets representing their digital images, instead. Collectors had to choose between keeping the NFT, which reportedly sold for $2,000, or swapping it for the physical artwork. Hirst told his Instagram followers on Monday he would burn 1,000 artworks on Tuesday. NFTs soared in popularity last year as crypto-rich speculators sought to cash in on rising prices but sales volumes have fallen more recently. Asked how he felt to be burning the works, Hirst said: "It feels good, better than I expected." Source: NDTV #NFTs
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