4K Brings Damien Hirst’s NFT, Beeple, and RTFKT Pieces Back to the Blockchain
4K.com, the world’s first marketplace for collectibles and luxury goods powered by non-fungible tokens (NFTs), has listed rare items such as a Damien Hirst The Currency piece, a selection of Beeple’s 5000 Days Collection physicals, and a pair of RTFKT x FEWOCiOUS sneakers. The marketplace is also now open for physical crypto art.
4K’s marketplace brings the benefits of blockchain technology to the physical world by turning these goods into NFTs. Through the marketplace, anyone can buy and sell fully-authenticated digital representations of physical assets, such as luxury watches, sneakers, Casascius coins, and more.
Now 4K is diving into the world of art with its newest listings, one of them being the prominent British artist Damien Hirst’s first NFT project The Currency. Created in 2016, this collection features 10,000 hand-painted physical artworks with their corresponding NFT. Currently, a limited redemption period is open where owners of the NFTs must decide whether or not to keep their artwork in NFT digital form or redeem it for the physical copy that is currently stored in a vault in London. Currently, only 5% of the physical artworks have been redeemed and after July, any unredeemed ones will be burned. 4K frees original NFT holders from narrow redemption windows by giving them a third option. Owners are able to redeem the artwork, send it into 4K to authenticate and store, and receive a physically-backed NFT that can be redeemed for the artwork anytime, for free.
Known for selling his work Everydays: The First 5000 Days for $69.3 million at Christie’s, Beeple is notable for his NFT creations and creating a picture every single day for the past 13 years. After the successful sale, he released a limited physical collection that commemorates the original piece and 4K is now in possession of seven of these, one of them being 1 of 105.
The last item added to the 4K marketplace is a pair of RTFKT x FEWOCiOUS sneakers. This collab between RTFKT and crypto artist FEWOCiOUS featured a limited series of virtual sneakers that could be redeemed for a physical pair. Over 600 pairs were sold totaling over $3.1 million in sales. The redeemed pair listed on 4K is 1 of 207.
4K implicity brings interoperability to a physical asset that would normally sit in a vault or at home. The future of art will be one where collectors can indefinitely own the physical print while still leveraging NFT efficiencies, and not worrying about physical custody. 4K enables this future and is now inviting art owners to submit their pieces for 4K to authenticate, insure, vault, and list in the marketplace.
4K.com is a protocol and marketplace that enables humanity to bridge physical assets across digital and analog worlds. By securely storing physical assets and issuing non-fungible tokens (NFTs) that are redeemable for those assets, 4K’s blockchain-based marketplace empowers anyone to seamlessly and confidently buy and sell authenticated assets. For more information, please visit https://4k.com/.
Published By : Financial Post