Currency NFT Burn Window Closes This Morning

The burn window for Damien Hirst's "The Currency" NFT will close this morning at 10:00 a.m., ET.

Through the project's burn mechanic, Currency NFT holders have the option to either burn their NFT in order to receive a physical print or hold the NFT through the window and retain the NFT. The physical prints were created in 2016 by Hirst and correspond to the NFT artworks.

When a collector chooses to hold their Currency NFT through the closing of the burn window, the corresponding physical print will be burned by Hirst at an upcoming exhibition that will be held on September 9 at the Newport Street Gallery in London. During the exhibition, Hirst also has plans to launch "The Currency Chronicles," which will be "a publication outlining the community experiences of the first phase of the project."

Of the 10,000-piece collection, nearly half (4,962) of the supply has been burned as of the time of writing. Burn frequency is picking up as we approach the deadline, with 33 NFTs having been burned in the last 30 minutes alone.

The project's floor price is also on the move in the hours leading up to the burn deadline with the floor price currently sitting at 5.69 ETH. Over the past 24 hours, the floor price has been volatile, hitting a low of 5.08 ETH and high of 6.59 ETH over that timeframe as collectors participate in price discovery following the reduction in the collection's size.