Tag: Damien Hirst’s The Currency

The Currency by Damien Hirst was the artist’s first NFT drop. The Currency is a collection of 10,000 NFTs, also known as Tenders, which correspond to 10,000 unique physical artworks by Damien Hirst, with the NFTs containing high resolution images of the front and back of each of the 10,000 artworks. There was an open application of one week, from 14 – 21 July 2021, with successful applicants able to buy an NFT for $2,000. During this time, 32,472 people applied for a total of 67,023 NFTs.

The secondary marketplace for buying and selling Tenders has been open since 29 July. The first day of trading on the secondary market saw trading volumes of more than $1.3 million. The average sales price on this day was $7,128. Over the next 10 days (until 9 August), the volume of tenders traded averaged $395,173 per day with an average price of $8,379.

Saturday 14 August saw an increase in volume to $2.8 million in 24 hours. The average price on the day was $14,582, having opened at $11,302 and closed at $19,032.

Sunday 15 August saw the trading volume increase to $9.6 million in 24 hours. The price opened at $21,224 and closed at the end of the day at $36,027. The overall average price on the day from 351 sales was $27,417.

Tuesday 31 August saw trading volume of $6 million in 24 hours.  The price opened at $52,107 and closed at the end of the day at $63,114.  The overall average on the day from 98 sales was $61,224.

Since the secondary market opened, there have been 2,077 sales totalling $50,026,521.