{"id":19530,"date":"2021-03-31T12:34:09","date_gmt":"2021-03-31T12:34:09","guid":{"rendered":"https:\/\/migrate1.artrights.me\/damien-hirst-vende-10-000-nft-su-palm\/"},"modified":"2021-04-22T08:16:29","modified_gmt":"2021-04-22T08:16:29","slug":"damien-hirst-sells-10000-nfts-on-palm","status":"publish","type":"post","link":"https:\/\/artrights.me\/en\/damien-hirst-sells-10000-nfts-on-palm\/","title":{"rendered":"Damien Hirst sells 10,000 nft on Palm, a new sustainable blockchain"},"content":{"rendered":"\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"h-damien-hirst-sells-10-000-nft-on-palm-a-new-sustainable-blockchain\"><strong>Damien Hirst sells 10,000 nft on Palm, a new sustainable blockchain<\/strong><\/h3>\n\n\n\n<p><strong><em><strong><em>Ethereum Co-founder Joe Lubin creates a 99% sustainable blockchain and Damien Hirst is the first artist to drop a drop.<\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>It is no secret that <a href=\"https:\/\/artrights.me\/en\/what-are-nfts\/\" target=\"_blank\" rel=\"noreferrer noopener\">NFT Non Fungible Token<\/a> have a <a href=\"https:\/\/artrights.me\/en\/crypto-art-nft-and-environmental-impact\/\" target=\"_blank\" rel=\"noreferrer noopener\">strong environmental impact<\/a> to the detriment of our planet. <a href=\"https:\/\/artrights.me\/en\/record-at-christies-crypto-art-work-sold-for-over-60-million\/\" target=\"_blank\" rel=\"noreferrer noopener\">The record sale of Beeple<\/a> not only raised <strong>$ 69.3 million, it also generated 78,597 kg of CO\u2082 emissions<\/strong>, the same amount of electricity used by more than 13 homes in a full year.<\/p>\n\n\n\n<p><strong><em>But today perhaps a solution to the problem has come from the world of Blockchain.<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/artrights.me\/en\/what-is-ethereum\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ethereum<\/strong><\/a> <strong>and ConsenSys co-founder Joe Lubin<\/strong> have announced the launch of <a href=\"https:\/\/palm.io\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Palm<\/strong><\/a>, an alternative network for NFT that is<strong> 99% more energy efficient.<\/strong><\/p>\n\n\n\n<p>Among the blue chip artists, the first to take part in the project is <strong>Damien Hirst<\/strong> with T<strong><em>he Currency Project,<\/em><\/strong> a series of <strong>10,000 oil paintings on paper created five years ago and transformed into <strong><a href=\"https:\/\/artrights.me\/en\/what-are-nfts\/\" target=\"_blank\" rel=\"noreferrer noopener\">NFT<\/a><\/strong><\/strong>s. At the moment the starting price for the sale is not yet known.<\/p>\n\n\n\n<p><em>The Currency Project explores the fusion of art and wealth and in this regard Hirst told The Art Newspaper: &#8220;This project explores the boundaries between art and currency: when art changes and becomes a currency and when currency becomes art&#8221;.<\/em><\/p>\n\n\n\n<p>This isn&#8217;t Hirst&#8217;s first foray into the blockchain. Earlier this month, he unveiled a series of eight prints called &#8220;The Virtues,&#8221; available for purchase via cryptocurrency on Heni Leviathan, an online marketplace for contemporary art.<\/p>\n\n\n\n<p>The works, each depicting cherry blossoms in bloom priced at $ 3,000, were only available for sale for one week. <strong>Hirst was one of the few high-profile artists<\/strong> &#8211; whose sales are usually handled by blue-chip galleries or auction houses &#8211; to land on online sales platforms.<\/p>\n\n\n\n<p>Given the huge energy consumption that the drop would entail, Damien Hirst considered it appropriate to adopt a <strong>platform whose environmental impact was more sustainable.<\/strong><\/p>\n\n\n\n<p>Indeed, if Hirst had launched 10,000 NFTs on an Ethereum-based site, the ecological cost would be catastrophic. According to artist <strong>Memo Akten<\/strong>, who has <a href=\"https:\/\/memoakten.medium.com\/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"broken_link\">undertaken crucial research on the environmental impact of the crypto industry<\/a>, <strong>one NFT<\/strong> (minted on <a href=\"https:\/\/superrare.co\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Super Rare<\/strong><\/a>) is equivalent to approximately 211 kg of CO\u2082.<\/p>\n\n\n\n<p>This means that Hirst&#8217;s project would have generated more than <strong>2 million kg of CO\u2082, the equivalent of 432 cars driven for a year!<\/strong><\/p>\n\n\n\n<p>Photo Credits: Damien Hirst&#8217;s&nbsp;<em>Cherry Blossoms<\/em>&nbsp;(2020).PHOTOGRAPHED BY PRUDENCE CUMING ASSOCIATES\/\u00a9DAMIEN HIRST AND SCIENCE LTD<\/p>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"h-and-you-are-you-ready-to-discover-palm-with-the-first-launch-of-damien-hirst\"><em>And you, are you ready to discover Palm with the first launch of Damien Hirst?<\/em><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Co-founder Joe Lubin creates a 99% sustainable blockchain and Damien Hirst is the first artist to drop a drop.<\/p>\n","protected":false},"author":4,"featured_media":19526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6941],"tags":[],"class_list":{"0":"post-19530","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-drop-nft-crypto-art-en"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Damien Hirst sells 10,000 NFTs on Palm | Crypto Art | Digital Art Rights<\/title>\n<meta name=\"description\" content=\"Ethereum Co-founder 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