Place/Date: Brooklyn, NY - March 12th, 2021 at 5:00 pm UTC · 2 min read
Exclusive NFTs from the first ever original Banksy burning are launching on Rarible. The rare pieces are created by the anonymous art and NFT enthusiast group Burnt Banksy that last week made headlines internationally for burning an original $95,000 Banksy piece called “Morons”. The piece was then turned into an NFT that sold for nearly $400,000 last week.
The act of the burning was covered by the likes of CBS, Coindesk, Forbes, Hypebeast, BBC, The Guardian and many other prominent publications. The sale of the NFT sparked further enthusiasm with the original video of the burning event racking up over 150K views on YouTube alone. According to the video, the Burnt Banksy group’s goal is to inspire artists everywhere.
The enigmatic group behind Burnt Banksy has added to the allure of the NFTs being created by him. Their Twitter bio simply reads “Burned a Banksy and made it into an #NFT. On a mission to bridge the world of physical art with NFTs”. The idea behind the burning is symbolic of this very ethos via which Burnt Banksy aimed to take the physical Banksy piece and transform it into an NFT. The burning was done in order to remove the physical piece entirely so that the value of the artwork would then be transferred onto the digital NFT itself.
The new pieces on Rarible provide a new lens into the burning event itself. Burnt Banksy has minted 5 rare pieces called “The Burn Video“. These pieces are an exclusive original short video from the burning itself.
The second collection called “Authentic Banksy Burn Witness” consists of 1,000 pieces that are each being sold for 0.2 ETH. Any piece that is not sold will be burned on-chain which Burnt Banksy hopes will add to the rarity of the event. The pieces depict an image of the burn event itself, so the idea is to allow more individuals to own a piece of this history via the NFT.