Thursday, February 2

Tag: Banksy

Blockchain company buys and burns Banksy artwork to turn it into a digital original
Science

Blockchain company buys and burns Banksy artwork to turn it into a digital original

A blockchain company bought a $95,000 Banksy artwork, burned it and broadcast it live on Twitter — all part of a process of turning the work into a virtual asset called a non-fungible token, or NFT. Injective Protocol, the company behind the stunt, bought the screenprint "Morons (White)" from New York's Taglialatella Gallery, then burned it Monday evening. The event, which took place in an undisclosed Brooklyn neighborhood, was live-streamed through the Twitter account BurntBanksy. Moments later, Injective Protocol employees created a digital representation of the art using blockchain technology on the OpenSea, which recently gained notoriety after Mark Cuban used it to issue his own NFT. While digital art has recently become popul...