Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
English artist Damien Hirst is facing heightened scrutiny this week following allegations that he backdated over 1,000 artworks from his NFT initiative “The Currency,” as reported by The Guardian on Wednesday.
Damian Hirst Criticized For NFT Project After Investigation
The contentious artist, known for his pieces featuring animals preserved in formaldehyde, is accused of misrepresenting the actual creation dates of approximately 10% of the 10,000 physical paintings associated with “The Currency,” each of which corresponds to a matching NFT.
Launched in 2021 and priced at $2000, Hirst asserted that all physical paintings within the NFT project were handcrafted in 2016.
Sources who spoke to The Guardian indicated that, in reality, the dotted paintings were mass-produced by nearly a dozen artists in 2018 and 2019 in the U.K. using 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
“It was very, very tedious,” one source informed The Guardian. “There were numerous sheets on these tables, and they were quite low so you had to bend down to do the spots. After a while, some individuals were experiencing repetitive strain injuries.”
Footage showing several paintings recorded from within Hirst’s studio in 2019 and verified by the media outlet supports the allegations.
Related Posts
Hirst’s legal representatives did not refute the claims, explaining that the 2016 date signifies the conceptual inception of Hirst’s “The Currency” rather than the actual production date of each painting.
Physical Copies of Damien Hirst’s ‘The Currency’ NFTs Incinerated
Buyers of “The Currency” had the option to retain either the physical painting or its digital counterpart, but not both. In 2022, Hirst incinerated the physical versions of those who opted for the NFT to effectively convert each painting’s value into a digital format.
“A lot of people think I’m burning millions of dollars of art but I’m not,” Hirst stated to the BBC at that time. “I’m completing the transformation of these physical artworks into NFTs by burning the physical versions.”
Backdating, the act of assigning an inaccurate year to an artwork indicating when it was created, is generally viewed unfavorably in the art community.
This is not the first instance in which Hirst has been accused of inaccurately dating a piece, as The Guardian published an exposé in March revealing that three of his formaldehyde sculptures from the 1990s were actually produced in 2017.
If the allegations hold true, they may harm Hirst’s already-questioned reputation, cast doubt on the authenticity of his works, and potentially diminish the value of his NFT project.
The post Controversial Artist Damien Hirst Accused Of Backdating 1,000 Paintings In NFT Project appeared first on Cryptonews.
