From the Burnt-Banksy Event to the NFTs Collectibles

By Juliette Yuan. March 15, 2021. New York





On last Friday's Washington Post, Beeple, the crypto artist that I wrote about a few weeks ago, made a big noise with his $69 million sale record at Christie's. While half of the Chinese art world on my WeChat was chatting about Beeple's upcoming exhibition in China, I caught on YouTube a video clip showing a young white boy slowly burning a Banksy print. The event named "Authentic Banksy Art Burning Ceremony (NFT)" happened a week ago. The burned work was an original Banksy monochromatic print titled "Morons," depicting an auction house packed with collectors bidding over a canvas that read:" I can't believe you morons actually buy this shit."



Banksy, Morons. Screenprint. (2006)

The illustration of this artwork was originally included in Jennifer Rabin's article, "The value of art: Cats, crypto art, and morons" for orartswatch.org on March 9, 2021.


"Imagine taking a digital portrait of someone famous - let's say, George Clooney. You embed a code into the meta data of the photo, which proves that you're the photographer and that the photo is one of a kind, and then you sell the digital file to an art collector for $100,000. […] the art collector who bought the digital portrait […] goes out and murders George Clooney hoping that the photo will be worth even more now that he's dead. The crypto art equivalent of that happened last week. An anonymous group of tech bros-cum-speculative-art-collectors burned a Banksy print, which they'd purchased for $95,000, in an attempt to ride the crypto art wave by turning it into an NFT and selling it for what they hope will be more money than the original." Jennifer Rabin commented in "The value of art: Cats, crypto art, and morons," her article for