NFT copy of burned Banksy painting sells for 228 ETH

The non-fungible token (NFT) of a Banksy painting copy titled \”Morons\” sold at auction for 228.69 ETH (about $400,000 at the time of writing).

Making history 🔥https://t.co/1k8EXyUOEZ

— Burnt Banksy March 7, 2021

Ahead of the auction on the OpenSea platform, unknown burned the original painting in a live broadcast. They stated they were prepared to destroy the certificate of authenticity if the buyer of the token did not request it.

Banksy created \”Morons\” (translated as \”Idiots\”) in 2006. On the stencil print, an auction for selling artworks is depicted. On one of the canvases, it reads: \”I can’t believe you morons are actually buying this shit.\”

\”Morons\” by Banksy. Data: Burnt Banksy.

In early February, actress Lindsay Lohan sold a Lightning for $70,000 NFT. The popular meme GIF of Nyan Cat went under the hammer for 300 ETH. In early March, Canadian singer Grimes earned about $6 million from her NFT collection.

Litecoin founder Charlie Lee compared the popularity of non-fungible tokens with the ICO boom of 2017 and the altcoins craze of 2013. Earlier he predicted the collapse of NFTs due to \”the zero cost of creating them\”.

NFT as a New Class of Virtual Assets: A First Look (Part One)

In March, the Twitter founder Jack Dorsey listed for sale his first tweet as an NFT. Bids rose to $2 million within 24 hours.

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