Starting with the creation of the physical artworks in 2016, The Currency explores the boundaries of art and currency—when art changes and becomes a currency, and when currency becomes art. Successful applicants will all initially receive NFTs. Ultimately, you have to decide between the digital NFT or the physical artwork, both of which are artworks in their own right. Whichever you pick, the other gets burned.
The collection is on the Palm blockchain, which is a new token-powered ecosystem for NFTs connected to Ethereum. It is 99% more energy efficient than proof of work systems such as Ethereum or Bitcoin. It also has low gas costs and fast transaction finality.