London Daily

Focus on the big picture.
Tuesday, Jul 29, 2025

Banksy art burned, destroyed and sold as token in 'money-making stunt'

Banksy art burned, destroyed and sold as token in 'money-making stunt'

An original Banksy, which was burnt and destroyed in a livestreamed video, has been sold via a digital token representing the work for $380,000 (£274,000).

The print Morons is itself a critique of the art market, depicting an auctioneer at Christies.

A video shared by the BurntBanksy account shows a masked man setting fire to the art with a lighter.

One art critic has dismissed the event as a "stunt" to make money.


The work was sold as digital art through NFT (non-fungible token) technology.

NFT provides an online ledger of ownership, but the art has no physical presence and can be reproduced.

This kind of art has become increasingly popular, with musician Grimes raising a total of $6m through auctioning digital works.

"It's a total stunt, playing off the fact that these things are going for big money," said Ossian Ward, author of the book Ways of Looking: How to Experience Contemporary Art.

"You can say anything is a work of art... but if you burn a Banksy and then want money for it, that ranks pretty low on the art scale for me."

Morons


The original 2006 screenprint by Banksy entitled Morons (White) depicts a Christie's auctioneer pointing at framed paintings in a crowded auction room.

Next to him is a framed image accompanied by a phrase including the words: “I can’t believe you morons actually buy this."

The Banksy was bought for $95,000 by Injective Protocol, the blockchain firm behind the stunt, who said it aimed to “inspire” tech enthusiasts and artists with this statement.

In the video, the man who burns the print is wearing a jumper which has a picture of Banksy's Girl With Balloon on it.

A framed copy of the painting was shredded after it sold at an auction in 2018.

'Expression of art'


“We view this burning event as an expression of art itself,” said Mirza Uddin, a spokesman for Injective Protocol.

“We specifically chose a Banksy piece since he has previously shredded one of his own artworks at an auction.”

He told news site CoinDesk another collaboration was being planned with a “prominent artist.”

"Banksy's own work has toyed with this idea that it is non-permanent," Mr Ward said. "Once those works are on the walls, he doesn't authenticate them."

Although "creative destruction of art is not new... it is always upsetting and shocking to see a piece being destroyed," said Gabrielle Du Plooy, founder of Zebra One Gallery.

"And in this instance, the intention seems more cynical."

'Money to burn'


"It is possible that the company are making a comment about the collectors who are buying it - they are the morons depicted, with literally enough money to burn," she added.

The group behind the stunt said it was on “a mission to bridge the world of physical art with NFTs.”

Initially, NFT has been a popular format for selling internet memes, with the Nyan Cat - depicting a cartoon cat with a Pop-tart body flying with a trail of rainbows - selling for $600,000.

The use of works by famous artists, such as Banksy, suggests NFTs are entering the mainstream.

Last month, 254-year-old auction house Christie's opened its first auction of purely digital work by the artist Mike Winkelmann - also known as Beeple.


And Twitter's co-founder Jack Dorsey is auctioning off an NFT of his first tweet. The highest current bid is $2.5m.

NFT investing


WhaleShark is one of the largest collectors of art and digital-gaming NFTs in the industry, with a collection worth an estimated $7m.

"With NFT technology, digital art can finally assume a strong commercial value given that we are now able to track provenance scarcity," he told the BBC.

"NFTs also enable non-traditional collectors such as myself an opportunity to collect art anonymously in a non-judgemental environment, while also eliminating the future challenges of physical space limitations and degradation that we see with their physical counterparts."

But many financial experts have urged caution when investing in NFTs.

"NFTs are booming right now, so there is an opportunity for both individuals and businesses to profit from being early adopters," said Nadya Ivanova, chief operating officer at foresight business L'Atelier BNP Paribas.

"But while the underlying utility of NFTs is clear and will likely last, the current surge in interest won't last forever.

"As ever, the golden rule is to only invest however much you are comfortable with losing."

Newsletter

Related Articles

0:00
0:00
Close
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
×