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Damien Hirst's 'The Currency' has made $26 million+ already. - FAD Magazine

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Damien Hirst’s ‘The Currency’ has made $26 million+ already.

Damien Hirst ‘The Currency’

A statement posted to the Discord server by HENI Analytics about Damien Hirst’sThe Currency‘ has broken down its sales for the past six, 12, and 24 hours for the NFT works. In the last 24 hours, 14 sales totalling almost $400,000 were recorded, with a maximum price of $43,204 and a minimum price of $3,694.

Since ‘The Currency’ launched in July, there have been a total of 1,571 sales on secondary market NFT platforms adding up to $26,345,475.

The maximum price paid so far sits at $120,614 for a work titled Yes, which is considered one of the rarer of the pieces in the series because it has a single-word title. HENI ranks each of the works in “The Currency” for its rarity based on algorithms that analyze density of the spots, colours used, and what kind of words are in each title, which all come from Hirst’s favourite songs.

OpenSea’s public data on the project confirm the basic trends suggested by HENI and Hirst. It shows that the floor price (or lowest available price) for an NFT from “The Currency” sits at 8.8 ETH, or $28,500, more than 10 times its original price. (The OpenSea floor price is updated hourly.)

According to OpenSea snapshot of the project, by far the most active day in “The Currency” trading history was August 14, when 249 of the NFTs changed hands. In recent days things have settled down considerably, with anywhere between 10 and 20 sales per day.

For the work A Way of Life, one recent sale was originally listed 10 days ago on the secondary market by its owner @Quality for 18.88 Ethereum (over $60,800). Finding no takers, it was re-listed a day later for 8.8 Ethereum (or $28,500). At that price, it was sold to @syzygyfinance 8 days ago for 8.49 Ethereum ($27,200), which re-listed A Way of Life just two days later for 14.8 Ethereum (or $47,800).

Today @syzygyfinance adjusted its asking price down to 9.75 Ethereum ($31,300), and sold it at that price to @liquiddyor, realizing about $4,000 in profit on the flip.

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