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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.
By Zack Seward
Updated May 9, 2023, 3:16 a.m. Published Mar 7, 2021, 7:48 p.m.
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."
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