Burn, baby burn!
Without the physical original the NFT is only true value owner. Nice move @BurntBanksy
The group around the twitter account @BurntBanksy burnt the 2006 piece "Morons". The authenticity of the art piece was officially confirmed by Pest Control (https://pestcontroloffice.com/), they say.
After the burn, they will mint an original NFT with the help of SuperFarm (https://t.me/SuperFarmANN) which is an innovative new platform for accessing and selling NFTs.
The auction for the NFT piece will be held on Open Sea (https://opensea.io/) starting tomorrow. The official link for this will be found on their official twitter account (https://twitter.com/BurntBanksy)
The group views this burning event as an expression of art itself. They are generating a new form of artwork via the creation of this unique NFT that is a direct representation of the physical.
For them the reason of the burning itself is so important because as long as the physical piece exists, the value of that piece will remain with the physical.
In their argumentation no one can ever alter the digital art in any way when the physical piece will be entirely re-created and specifications such as the art version number is added into the smart contract code.
In this way the physical piece will forever be memorialized in this NFT.
They hope to inspire new tech and art enthusiasts with their work. The strongly believe NFTs hold tremendous promise and blockchain technology can help to further diversify art expression as they demonstrate with this Banksy burning.
Finally, it is again a new way of getting the attention of the world with Banksy towards NFT and CryptoArt.