It is not a tradable symbol, or NFT, of a charred painting created by renowned British street artist Banksy and sold for about $ 400,000.

On March 8, the symbol was sold on the NFT OpenSea Marketplace for 228.69 Ether, which at the time of writing was valued at approximately $ 382,000. The sale took place three days after the auction, and almost 70 bidders raised the price from a price of 0.00001 ETH.

NFT was created by Burnt Banksy, a group of cryptocurrency investors who bought Banky’s “Morons” board for almost $ 100,000 in February.

Morons is a painting that throws fun in the art industry, depicting a tumultuous auction of a canvas framed with the words in large letters: “I can not believe that fools buy this shit.” On March 4, art owners posted the painting directly on Twitter at an unknown location in Brooklyn, New York.

Moron’s NFT was sold to “Galaxy”, an OpenSea user who is currently showing off four NFTs, including a parody of famed artist Frida Kahlo as Kim Kardashian in the infamous 2014 “Internet Break” shoot.

While the token is the first NFT to represent a confirmed and burned Banksy board, it is not the first to reproduce a work of art that was destroyed after it was coded.

In August 2020, former 70s Show star Ashton Kutcher created a symbolic climb in a notebook with a dozen eyes, a star and his signature. NFT is listed for a charity auction on Cryptograph Market.

In February, the investor who bought celebrity NFT, Lindsay Lohan, then started burning it – by sending the token to a wallet address that could not be used to prevent anyone from owning or trading the token in the future.

Source: CoinTelegraph