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| Is that for real? Group BURNS Banksy artwork to make its existence completely digital (VIDEO) | Is that for real? Group BURNS Banksy artwork to make its existence completely digital (VIDEO) |
| (6 months later) | |
| A blockchain company physically destroyed a piece of art by graffiti icon Banksy – as they explained, to turn it into a virtual asset. | A blockchain company physically destroyed a piece of art by graffiti icon Banksy – as they explained, to turn it into a virtual asset. |
| Blockchain company Injective Protocol paid $95,000 for the art titled ‘Morons (White)’ – which features an auction for a painting that reads, “I can't believe you morons actually buy this sh*t” – before setting it on fire and recording the destruction live. The art is now solely available as an NFT (non-fungible token) and can only be purchased and viewed digitally. | Blockchain company Injective Protocol paid $95,000 for the art titled ‘Morons (White)’ – which features an auction for a painting that reads, “I can't believe you morons actually buy this sh*t” – before setting it on fire and recording the destruction live. The art is now solely available as an NFT (non-fungible token) and can only be purchased and viewed digitally. |
| Spectators had mixed feelings about the destruction, with some calling it a “milestone in modern art history,” and “one of the most punk things I've seen recently.” | Spectators had mixed feelings about the destruction, with some calling it a “milestone in modern art history,” and “one of the most punk things I've seen recently.” |
| Others expressed disgust at the incineration of a perfectly good Banksy piece, while some even doubted whether the act was “real or just some edgy PR stunt.” | Others expressed disgust at the incineration of a perfectly good Banksy piece, while some even doubted whether the act was “real or just some edgy PR stunt.” |
| “How are you proving you're burning the real one?” asked one Twitter user. “The original could still be on the founders wall for all we know.” | “How are you proving you're burning the real one?” asked one Twitter user. “The original could still be on the founders wall for all we know.” |
| CBS News, however, apparently saw the piece's certificate of authenticity and receipt, confirming that the stunt was legitimate. | CBS News, however, apparently saw the piece's certificate of authenticity and receipt, confirming that the stunt was legitimate. |
| “We view this burning event as an expression of art itself,”said Injective Protocol figure Mirza Uddin. “We specifically chose a Banksy piece since he has previously shredded one of his own artworks at an auction.” | “We view this burning event as an expression of art itself,”said Injective Protocol figure Mirza Uddin. “We specifically chose a Banksy piece since he has previously shredded one of his own artworks at an auction.” |
| NFT art has become increasingly popular over the past few years, with illustrations, albums, and videos being sold for sometimes millions. | NFT art has become increasingly popular over the past few years, with illustrations, albums, and videos being sold for sometimes millions. |
| Canadian musician Grimes recently sold almost $6 million worth of art as NFTs, while American rock band Kings of Leon will release their upcoming album ‘When You See Yourself’ in the format. | Canadian musician Grimes recently sold almost $6 million worth of art as NFTs, while American rock band Kings of Leon will release their upcoming album ‘When You See Yourself’ in the format. |
| Like this story? Share it with a friend! | Like this story? Share it with a friend! |
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