Burnt Banksy NFT Sells for $380,000 in Ethereum

[Cordillerabit]

A group of crypto-savvy artists burned an original Banksy artwork that sold for 228.69 ETH, or roughly $380,000 at the time of purchase.

The non-fungible tokens (NFTs) statement's authors accepted the offer on Sunday afternoon Eastern time. The artwork was physically burned in a Brooklyn park just days before the OpenSea sale. The artists paid around $100,000 for the piece, according to an unnamed source who spoke to CoinDesk earlier this week.

The company behind the Banksy purchase is Injective Protocol. Mirza Uddin, a spokesman for the group, said the group is still deciding which charity will receive the proceeds from the NFT sale, but that it will be COVID-focused.

Uddin told CoinDesk, "We're already planning our next event in collaboration with a prominent artist." “Our goal is to connect the worlds of traditional art and NFTs. As a result, we'll be doing even more to uphold this ethos.”

Source: Bityard