A non-fungible token, or NFT, depicting an incinerated painting created past renowned British street creative person, Banksy, has sold for nearly $400,000.

On March 8, the token was sold on NFT market place OpenSea for 228.69 Ether — worth roughly $382,000 at the time of writing. The sale followed three days of bidding, with approximately 70 bidders pushing the price up from a starting cost of 0.00001 ETH.

The NFT was created by "Burnt Banksy," a group of crypto investors who purchased Banky's painting "Morons" for roughly $100,000 in February.

Morons is a painting satirizing the fine art industry that depicts a bustling sale for a framed canvass donned with capitalized words reading: "I can't believe you morons buy this shit." On March iv, the artwork'due south owners incinerated the painting on a Twitter live stream at an unknown location in Brooklyn, New York.

The Morons NFT was sold to 'Galaxy,' an OpenSea user who currently has four NFTs on display, including a satirical slice depicting renowned artist Frida Kahlo equally Kim Kardashian in her infamous 'internet-breaking' photoshoot from 2014.

While the token is the first NFT to correspond a verified Banksy painting that has been incinerated, it is not the offset to describe an artwork that was destroyed subsequently beingness tokenized.

In August 2020, sometime 'That lxx'due south Prove' star Ashton Kutcher created a tokenized representation of a notepad scribble depicting a dozen pairs of optics, a star, and his signature. The NFT was put upwardly for charity auction on Cryptograph marketplace.

In February, the investor who purchased an NFT created by celebrity Lindsay Lohan and then proceeded to burn information technology — sending the token to a verifiably un-spendable wallet accost so that nobody tin can ain or merchandise the token in the future. The decision was commended by the pop crypto commentator, DeFi Dude: