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Burnt Banksy NFT Sells for $380K in ETH
A Banksy piece bought by a group of crypto-savvy artists, burned in a park and memorialized as an NFT has sold for 228.69 ETH.
An original Banksy artwork burned by a group of crypto-savvy artists has sold for 228.69 ETH, or roughly $380,000 at purchase.
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The group behind the statement on non-fungible tokens (NFTs) accepted the offer Sunday afternoon Eastern time. The OpenSea sale comes just days after the group physically burned the artwork in a Brooklyn park. An unnamed source told CoinDesk earlier this week that the artists bought the piece for roughly $100,000.
Read more: Banksy Work Physically Burned and Digitized as NFT in Art-World First
Injective Protocol is the firm behind the Banksy buy. Spokesman Mirza Uddin said the group is still deciding on which charity will receive the proceeds from the NFT sale, though he did say it will be COVID-focused.
"We're already planning our next event in collaboration with a prominent artist," Uddin told CoinDesk. "Our aim is to bridge the world of traditional art with the world of NFTs. So, we'll definitely be doing more to uphold this ethos."
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
