18 April 2021
Banksy's burned work has been turned into a digital asset

Banksy’s burned work has been turned into a digital asset

One blockchain company, street artist Banksy a signed work of art 95 thousand dollars purchased and burned in exchange, and posted the images on Twitter. ‘MoronsThe painting named ‘fell into ashes in a matter of seconds. Shortly after token that cannot be converted from a physical entity (NFT) was turned into.

Famous for his striking murals he painted in dozens of countries, especially England, Banksy political activist is known for its projects. The artist has been giving remarkable messages with his anti-capitalist and minority rights works he has drawn on countless walls in different corners of the world for years. But this time it was not himself who gave the message, but a picture he made years ago. That famous painting is now spoken of as one of the most interesting examples of modern art.

They bought and burned the Banksy painting

Injective Protocol judicial block chain company in a gallery in New York in 2006 95 thousand dollars by paying Banksy Morons He bought his work called (Morons). Members of the same firm recently BurntBanksy He burned this painting in front of thousands of people during the live broadcast on the Twitter account they named. Although the reason for this was not understood at the beginning, it was soon clarified the reason for this action.

Before the surprise of the audience who watched the live broadcast, the company employees, blockchain using the technology of the work digital representation created. OpenSea artwork using the blockchain network NFTturned into. This unexpected move quickly divided social media. Some people say this “modern ArtHe would evaluate it as ”. Others regretted the physical disappearance of an original Banksy work.

Mirza Uddin, director of Injective Protocol, said, β€œThe first great example of a physical work of art turning into an unprecedented being, ”He expressed as. He stated that they specially selected a work by Banksy for this initiative. He cited an example of the artist breaking down his own work in an auction in recent years. also Non-Fungible Token (NFT), also mentioned the non-exchangeable and non-exchangeable nature of the crypto money method. He added that this way, the work will live forever and will never be out of date.

How do you evaluate this event? Is the transformation of the painting into a digital asset a modern art initiative or a disrespect for the work? You can share your ideas with us.

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