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How has Damien Hirst NFT generated $25 million?

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Cryptocurrency and digital trading are the ultimate future doubtlessly. It is more secure in making trades. There are fewer chances of getting bluffed when you make the trading online. You will be the sole owner of the NFT token. Every single NFT token will have its market value.

The Journey of Damien Hirst NFT:

Some of them will be of high market value, or some might be a little low. Damien Hirst NFT is also a part of the NFT token market. The floor for the collection of Damien Hirst NFT is over $15,000. With the passage of time, this NFT token has worked pretty well in the market. With the latest collaboration with an art services business, Damien Hurst NFT has generated $25 million.

Yes, you read it completely right because of the art auctions. The money this NFT token has made is $25 million. Hage founded this art service. From the initial sale, they grossed $18 million. The business wasn’t over yet for the Damien Hirst and for Hage both.

  1. From the latest details, Hage also mentioned that they are still collecting a 5% profit amount of the proceeds from NFT resales.
  2. Every resale of the old item sold through Damien Hirst NFT token would benefit him. Obviously, the artwork will get resale again and again to new owners, and every resale would also help Damien Hirst earn money.
  3. The furthering proceedings are helping Damien Hirst to make further money out of their art services collaboration.
  4. NFT tokens are mostly used to make trading online a safer passage. There will be less risk of losing your money, deal, and assets.

These kinds of trading help the NFT token owners because the more people use a specific NFT token, the higher its price would become in the market. You can call this digital currency market a cult, and Hirst called himself the cult leader in one of his interviews with the NY Times.

A collaboration with an art services business

The old way of arranging auctions for artwork has gone way out of trend. Nowadays, a safer and more convenient method has been welcomed with the help of NFT tokens. These tokens would be used to fractionalize hard assets for buying and selling them too.

  1. Damien Hirst NFT has also become famous because of the artwork services. All the paintings sold and bought through this channel benefited Damien Hirst, and the collaborated art services company.
  2. NFT tokens are more non-fungible assets. There is more safety if you make the dealings through NFT tokens.
  3. If you want to buy or sell a painting and you don’t want to have any medium between the investor and the seller, then using the cryptocurrency platform would be the most convenient way of making the deal.

You won’t need a third person to make the deal, but you will pay the NFT token company. This was the way through which Damien Hirst NFT made its $25 million. With every single sale, Damien Hirst and Hage both received their benefits.

The fluctuation in the market prices

When you invest in the stock exchange market and you buy stocks of different companies, there will be a fluctuation in the market. It is not compulsory that if you bought shares of a company, then you will always get profited out of it. There might be days when the stock market crashes, and you face loss too.

  • It is the same scenario with Damien Hirst NFT. The market fluctuation will help increase or decrease the NFT tokens value.
  • Sometimes even the developer increases the value of the NFT token so more people will invest in it.

The thing that benefited Damien Hirst was that it turned old-school art practice into digital art practice. The art market touched the sky because the sales through the digital market were simply impeccable.

This was the point where Damien made his $25 million. In 2007 through Damien Hirst NFT, artwork on paper was sold worth more than $393.065. yes, this was just the start of Damien Hirst’s success. With that debut, the market went simply crazy, and the sales made through this specific NFT token have reached $25 million.

The fluctuation in the market also helped Damien Hirst to make a good amount of money. So all factors together were the reason how this NFT token earned this much with the help of art services.

The NFT resale profits

From first-hand sales, Damien Hirst made a good amount of money, and Hage too. This was not the end of the earning phase, but Hage is getting 5% of profit again on every resale. Yes, this NFT token made about $18 million from the initial sales. From the resales, they started making money too.

The resales helped them to cross the $25 million score. Still, the sales are going on. The artists are selling the artwork they made on paper through an online cryptocurrency platform. Every single sale benefits Damien Hirst. The value of his NFT token is getting higher day by day. More artists are using Damien Hirst NFT tokens for selling their artwork because there is no chance that you get bluffed by the buyer if you use this digital trading platform.

The artwork sold by using Damien Hirst NFT token would belong to one owner at a time. Yes, it is a completely safe-made medium of making trades that includes artwork only. Yes, with the help of artwork, Damien Hirst made a lot of money out of it and still making it.

The final Remarks:

Now you might have understood how this digital trading works and how Damien Hirst NFT made $25million? It is not the end of this collection because on every resale through NFT token, Hage is still getting 5% from the proceedings. The business is still going on for both Damien Hirst and Hage too. You need to be creative and learn the art of NFT, it is the future.

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