Burning a Frida Kahlo drawing to sell NFTs is a bad idea
It’s hard out there for NFT enthusiasts — the market has slowed down significantly, sales have plummeted since peaks, and the people involved in the space are grasping for ways to get their projects some attention.
For crypto businessperson Martin Mobarak, the best way he knew how to do that was to destroy art by Frida Kahlo, valued at $10 million. In July, at a party for Mobarak’s Frida.NFT project, the art collector burned a drawing by Kahlo to a cheering crowd, according to the Miami Herald, promising to use the profits from NFT sales for charity.
“I’m proud to say this event will solve some of the world’s biggest problems in honor of Frida Kahlo,” reads a title slide in a video produced by the NFT company.