FIf this is true, if it is more than vulgar, then it is a matter of legality. Florida-based crypto entrepreneur Martin Mubarak wants a work by the Mexican painter Frida Kahlo It has been burned so that it physically exists only in the form of Non-Fungible Tokens (NFTs) – as a chain of certificates of ownership in the blockchain.
A YouTube video supposedly shows the event, which is said to have been staged in July: You can watch a pool party, where a mariachi band’s sounds are taken from a frame and consumed by flames in a cocktail glass on dry ice. On Frida’s website they are known as “Fantasmones siniestros” (supernatural spirits).NFTidentified as a torn sheet of Kahlo’s diary, on which the artist painted Fantastic Beings in watercolor circa 1944.
In 2015, Mubarak claimed to have bought it from a private owner for ten million dollars. Now it will be destroyed – or, as Mubarak puts it, rising like a phoenix from the ashes in ten thousand NFTs. At the price of three ethers each – roughly four thousand dollars – they can be “minted”.
The fact that “a portion” of the proceeds will go to charity and the Frida Kahlo Museum in Coyoacán doesn’t make it any better. Mexico’s Ministry of Culture is examining whether Mubarak burned an authentic work, since the willful destruction of an art monument in Mexico is a criminal offense. The lack of demand will hit the torch harder and faster: if he stays in NFTs, he’ll burn a lot of money, and he’ll serve it right.
In Kahlo’s alleged burning, two hot market events were combined: There have been increases in value that Mexican women’s businesses have seen recently. A self-portrait of Kahlo at Sotheby’s in New York cost $34.9 million in November 2021, which was available for $1.9 million in 1990. A bad NFT habit, still popular despite the crypto crash, is destroying physical businesses for tokens .
Pictures become sweets
In early 2021, activists burned Banksy’s print and sold it as an NFT, turning a profit. Damien HirstOne of the most enthusiastic and successful contemporary artists playing with market mechanisms has launched an art project called Currency, which focuses on value addition or the destructive combustion of value. If you buy one of ten thousand banknote-like images with a confetti print, you’ll receive it on paper — or as an NFT, the corresponding paper will be burned. More than half of buyers have opted for something tangible, but Hirst still has a lot to do when the auto-da-fé kicks off Oct. 11 at London’s Frieze Art Gallery.
Thanks to inflation, anyone can burn money, and by the way, there is also the art of NFT without destroying others because of it. But if the association with book burning doesn’t bother you, please do, and if the artist holds the match with his own work, for our sake. Alone, Frida Kahlo no longer had a say. Otherwise, she would have stopped Mara de Anda Romeo, one of her great-grandmothers, from NFTing a brick from the artist’s red house. for metaverse.