Original artwork crafted by the pseudonymous England-based street artist and political activist Banksy has been burned in order to turn the art into a non-fungible token (NFT). The screenprint was one of only 500 made and was authenticated by Banksy’s verification company Pest Control. The burning was a symbolic message of turning a rare piece of physical artwork into a non-fungible digital collector’s item.
Burning a Banksy ‘Morons’ Print
In February a Twitter account appeared on social media with the name @burntbanksy, which consists of a group of art and non-fungible token (NFT) enthusiasts. The group of collectors and investors announced that on March 2, 2021, the group would be burning the artwork created by the iconic street artist Banksy.
The England-based artist and well known political activist, Banksy is one of the most popular graffiti artists today with his unique street art commentary and stenciling technique. The Burnt Banksy team decided they would be destroying a piece called “Morons” which was screen printed in 2006.
“Morons” is a critical stab at the art scene, as it ridicules the very buyers of Banksy’s artwork. The graphic shows an art auction and the painting being sold says “I can’t believe you morons actually buy this sh*t.” The art owned by the Burnt Banksy team was a screen print numbered 325 out of 500 pieces Banksy created. Estimates say the “Morons” prints are valued at around £70,000 or $97,734 USD. The “Morons” piece minted by Banksy in 2006 was also certified by Banksy’s authentication team Pest Control.
One of the members of the Burnt Banksy crew appeared on a livestream in order to show the burning process and explain the reasoning behind it. The individual mentioned the team was a bunch of art enthusiasts backed by the…