​An artwork by Banksy called 'Morons (White)' was bought from | Foil Network | Journal

​An artwork by Banksy called "Morons (White)" was bought from the New York's Taglialatella gallery for $95,000 and immediately burned in a live broadcast on Twitter. The buyer then turned the digital copy of the burned painting into an NFT and a few days later sold it for $380,000.
⠀
In our marketplace, a work created from wood by the artist 13adara - "Icon of Ruslan Sokolovsky" - was digitized and was also burned a little later.
⠀
And why do they burn paintings?
⠀
It may seem like a planned publicity stunt in the style of Gogol. But "burning" has its own philosophy-it's how a physically existing piece of art is transformed into a virtual asset.
The new buyer receives a unique digital code identifying the work and a certificate of authenticity.
⠀
These "burning" events are in fact expressions of art itself. A new form of artwork is established through the creation of a unique NFT, which is a direct representation of the physical one.
⠀
In addition, fire is also added to reach the maximum value of the art object: while it exists physically, part of the value belongs to the physical world, and after the act of burning, the work acquires absolute and unique value. The physical part will forever be immortalized in the digital NFT, and nobody can ever change digital art by any means.