Banksy art burned, destroyed and sold as token in ‘money-making stunt’

Source | BBC

An original Banksy, which was burnt and destroyed in a livestreamed video, has been sold via a digital token representing the work for $380,000 (£274,000)

The print Morons is itself a critique of the art market, depicting an auctioneer at Christies. A video shared by the BurntBanksy account shows a masked man setting fire to the art with a lighter. One art critic has dismissed the event as a “stunt” to make money. The work was sold as digital art through NFT (non-fungible token) technology. NFT provides an online ledger of ownership, but the art has no physical presence and can be reproduced. This kind of art has become increasingly popular, with musician Grimes raising a total of $6m through auctioning digital works.

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