On March 3, a group of anonymous art enthusiasts decided to burn an original Banksy screenprint worth roughly £70,000 or around $95,000 USD, and then turned it into a non-fungible token (NFT) asset. The art now exists as an NFT and was auctioned for 228.69 ethereum or $394k using today’s ether exchange rates. However, not everyone was impressed by the NFT transformation, as the cofounder of myartbroker.com says the NFT sale raises the idea that “the only morons in this transaction are the buyers and stunt artists themselves.

A Burned Banksy Transformed Into an NFT Sells for Close to $400K in Ether

Just recently a collective of unknown art enthusiasts and non-fungible token (NFT) asset fans decided to transform a physical Banksy screenprint into an NFT. News.Bitcoin.com reported on the group who burned the original Banksy piece called “Morons” and explained why the collective called @burntbanksy chose this route.

“The reason behind…

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Source: https://news.bitcoin.com/burned-banksy-nft-sale-captures-close-to-400k-critics-claim-buyers-are-morons/