$100,000 Banksy burned and turned into NFT

I conic British street artist Banksy made headlines again.

The artist’s original work “Morons” has been physically burned and transformed into a digital representation by a group of collectors and investors.

The piece, which was worth around $100,000 before it was destroyed, ridicules collectors for purchasing expensive pieces of art. “Morons” was burned in New York on March 4 and the event was live-streamed.

According to the group, this digitized artform, also known as NFT (non-fungible tokens), is the future of the art industry.

Banksy, who has never disclosed his full identity, began his career spray-painting buildings in Bristol, England, and has become one of the world’s best-known artists. His mischievous and often satirical images include two policemen kissing, armed riot police with yellow smiley faces and a chimpanzee with a sign bearing the words, “Laugh now, but one day I’ll be in charge.”

In 2018, a work by the elusive street artist self-destructed in front of startled auction-goers, moments after being sold for 1.04 million pounds ($1.4 million).

The spray-painted canvas “Girl With Balloon” went under the hammer at Sotheby’s in London, fetching more than three times its pre-sale estimate and equaling a record price for the artist.

Then, as an alarm sounded, it ran through a shredder embedded in the frame, emerging from the bottom in strips.

Banksy has a penchant for elaborate pranks. In 2005, he hung an image of a spear-toting ancient human pushing a shopping cart in the British Museum, where it remained for several days before being discovered. The next year he smuggled a life-sized figure of a Guantanamo Bay detainee into Disneyland.

“Girl With Balloon,” which depicts a small child reaching up toward a heart-shaped red balloon, was originally stenciled on a wall in east London and has been endlessly reproduced, becoming one of Banksy’s best-known images.

Last November, the painting “Bird with Grenade” by Banksy went under the hammer in the Netherlands for 170,000 euros (nearly $202,800).

PUBLISHED BY– Dailysabah

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