- Martin Mobarak burned Frida Kahlo’s famous art piece worth $10M as a part of NFT launch.
- After this NFT student, Mobarak is under investigation by officials in the Mexico, homeland of Frida Kahlo.
Mobarak is the CEO of Frida.NFT that is transforming the charity with Blockchain technology. During an event in July 2022, Martin Mobarak recorded himself burning the famous art piece of Mexican Painter, Frida Kahlo, that was worth $10 Million. This NFT stunt was meant to advertise his sale of digital versions of the rare work that is considered a National Treasure in Mexico.
Mobarak’s NFT Stunt
Mobarak said before taking out the art piece known as “Fantasmones Siniestros,” from its frame and setting it alight in a martini glass full of fuel, “I hope that everyone here can understand it, I hope everyone can see the positive side.”
Mobarak also claimed that the sale of the NFTs will benefit the Palace of Fine Arts in Mexico, Coyoacan’s Frida Kahlo Museum, and various charities dedicated to medical care for children. He added “What we are going to do is change the lives of thousands of children.”
Institutional Investigation
On this Monday, Mexico’s National Institute of Fine Arts announced it’s opening an investigation into the destruction of the famous art piece. The Institute added in a statement that “In Mexico, the deliberate destruction of an artistic monument constitutes a crime in terms of the federal law on archaeological, artistic and historical monuments and zones. All the necessary information is currently being collected in order to establish with certainty that it was the destruction of an original work or a reproduction.”
Additionally, the Institute mentioned that the Palace of Fine Arts had yet to receive any donations from Mobarak, while there is no immediate response to a request for comment.
Source: https://www.thecoinrepublic.com/2022/09/28/millionaire-burns-frida-kahlos-artwork-to-create-nfts/