A cryptocurrency entrepreneur claims to have burned a drawing by famed Mexican painter Frida Kahlo to create NFT art. NFTs (Non-fungible Tokens) make it possible to provide digital content with a non-exchangeable certificate of ownership.
Mexico’s Ministry of Culture is now verifying the authenticity of the work. “In Mexico, the deliberate destruction of an art monument is a criminal offense,” a statement released Tuesday evening (local time) said.
Drawing lit at the end of July
Entrepreneur Martín Mobarak’s action took place in Miami at the end of July. A video he published shows him removing the drawing “Fantasmones siniestros” (Scary Ghosts) from the frame during an event. He then illuminates the work over a glass of dry ice (photo below and in the video above from minute 2:10).
According to media reports, Mobarak bought the 15 by 23.5 centimeter photo in 2015. He would have paid ten million dollars (about 10.3 million euros) for it. Now he wants to sell 10,000 NFTs of the statue for charity. The original drawing comes from a personal diary of Kahlo (1907 to 1954), who is considered the “most expensive” painter in Latin America.
NFT boom on the art market since 2021
NFTs (non-exchangeable tokens) are digital certificates of authenticity that refer to tangible objects or virtual goods. While there can be any number of identical copies of an object, only one NFT can be considered the original and therefore can only be assigned to one owner. There has been an NFT boom in the art market since early 2021. Numerous digital artworks are sold on special websites.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
