Blockchain company BurntBanksy recently bought a $95,000 Banksy artwork, just to set it on fire! The goal was to take art in the physical world and bring in into the digital world as something called an NFT (non-fungible token).
The company stated “We view this burning event as an expression of art itself, and we specifically chose a Banksy piece since he has previously shredded one of his own artworks at an auction.”
The company is selling the piece on an NFT website called OpenSea, where the current offer is on 2 ETH ($7,357).
deftly turning 95 grand into 7 like any crypto scheme worth it’s salt
love that it happened to a banksy piece too! clown on clown violence
Casual reminder, they did not “bring it into the digital world”. An NFT is not an image. An NFT is a receipt on the blockchain, that attributes ownership of that image to a specific person. They minted an NFT out of an image of the painting, and then they destroyed the painting. That’s the story. The painting no longer exists.
lmfaooo