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A Painting or an NFT of It: Which Will Be More Valuable?



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The British artist Damien Hirst, best known for putting a shark in a tank of formaldehyde, has gotten on the NFT bandwagon.NFTs, or nonfungible tokens, rely on blockchain technology to designate an official copy of a piece of digital media that would otherwise be cheap or free. Mr. Hirst is selling a collection of 10,000 NFTs, each of which corresponds to a physical dot painting, for $2,000 each. A year from now, the collectors of the series, called “The Currency,” will have to decide whether to keep the NFT or the painting; whichever one they don’t choose will be destroyed. …

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