Writing / Artist statement
Checks: a stated precedent and a correction
Butcher names The Currency while developing Checks, corrects the figures he initially used and distinguishes his proposed mechanism.
Jack Butcher · 7 January 2023 · 4 selected posts
19:35:14 UTC · Original post on X · Link to this transcript
If you have been around NFTs for a while, you'll recall Damian Hirst's "The Currency" — which worked like this: Burn the NFT, get the physical, or keep the NFT, and the physical gets burned. Of the original 10,000, there are 1,846 NFTs left. https://t.co/fekTCrw0RC
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20:01:55 UTC · Original post on X · Link to this transcript
The supply stays the "same" but the market reveals its preference for each medium in the process. (Numbers above are apparently not correct, collection is split across a couple of chains/not displaying perfectly on OS, anyone who knows actual numbers please enlighten me)
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20:10:58 UTC · Original post on X · Link to this transcript
A lengthier detour than planned, correction below: The majority of the market opted for the physical version. https://t.co/9hpqnvmQUk
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20:13:53 UTC · Original post on X · Link to this transcript
This is not what we are going to do, but an important precedent to recognize. Next steps for Checks — checking technical feasibility on a few things, and double checking some math. Will be back to share soon, thanks for reading.
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