Frida Kahlo's drawing is burned to turn it into NFT
The millionaire who owned the work did it for charity.
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Martin Mobarak was responsible for burning one of Frida Kahlo's diary pages, valued at $10 million, to make a Non-Fungible Token (NFT). He reportedly acquired it in 2015 from New York gallery Mary Anne Martin.
Kahlo's drawing titled "Sinister Ghosts" is one of the pieces from her diary, dated between 1944 and 1954.
Mobarak said, during the event at which he destroyed the piece in July, that with the sales of the NFT he was going to make donations to various pre-chosen foundations.
With his web initiative Frida.NFT, the man seeks digital transformation and for Kahlo's art "to be shared around the world" to create donations that will continue to grow "in eternity," reported El País.
After what happened to the historic piece of art became known, Mexico's Ministry of Culture assured that they will not receive any donation and that they will investigate in detail what happened.
The National Institute of Fine Arts and Literature (INBAL) informed that neither the Palace of Fine Arts nor the Palace Museum will receive any donation from the collector and businessman, as has been publicly reported.
Also, the INBAL informed that so far it has not received any request and has not issued any authorization for the reproduction of the work in question.
Although Mobarak did this act to allocate the proceeds to charitable causes related to children, INBAL mentioned that in Mexico the deliberate destruction of an artistic monument constitutes a crime in terms of the Federal Law on Monuments and Archaeological, Artistic and Historical Zones.