€10m Frida Kahlo artwork set on fire to boost digital value

The art world was horrified after a cryptocurrency entrepreneur claimed to have burned a $10 million drawing of Frida Kahlo to “permanently transfer it to the Metaverse.”

na bizarre stunt, the Mexican artist Fantasmones Siniestros (Sinister Ghosts) was apparently placed in a martini glass in a Miami mansion and set on fire as a mariachi band played.

Martin Mobarak, who burned the drawing, is selling 10,000 non-fungible tokens (NFTs) — high-resolution digital versions — of the work for about €4,000 each in Ethereum cryptocurrency. He said some of the money would go to children’s medical charities and museums.

However, Mexico’s National Institute of Fine Arts was far from amused and published Op an investigation ended.

It said: “In Mexico, the willful destruction of a monument of art is a crime. All necessary information is currently being collected.”

A website selling the NFTs states, “Like a phoenix rising from its ashes, the art is reborn into eternity.”

It described Mr. Mobarak as an “art alchemist who turns physical art into digital gold”.

Video of the burning in July shows guests arriving for a party at a private home, which features a mariachi band, scantily clad models by a swimming pool, and a fire dancer in a leotard. (© Telegraph Media Group 2022)

Telegraph Media Group Limited [2022]

https://www.independent.ie/world-news/10m-work-of-art-by-frida-kahlo-set-on-fire-to-hike-digital-value-42028124.html €10m Frida Kahlo artwork set on fire to boost digital value

Fry Electronics Team

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