In a bold move, a businessman incinerated a Frida Kahlo creation to facilitate its integration into the Metaverse.
In Brief
Martin Mobarak is said to have set aflame a piece of Frida Kahlo's artwork, showcasing it in a martini glass to draw attention to his new NFT initiative inspired by the artist.
The authorities in Mexico are currently looking into this unusual incident.
Martin Mobarak, the Mexican art connoisseur and AGCoin founder, is believed to have incinerated a $10 million drawing by Frida Kahlo to unveil his NFT project. He hosted a lavish event at his Miami mansion, where he burned Kahlo’s 'Fantasmones Siniestros' (1944) in a martini glass.
The NFT initiative that Mobarak is promoting goes by the name 'Frida.NFT.' This collection aims to capture 10,000 digital adaptations of Kahlo's 'Fantasmones Siniestros.' According to their claims, website Mobarak's objective was to convert the physical piece of art into a digital format suitable for the Metaverse.
Owning these NFTs would provide exclusive access to high-end events and unique experiences, such as the launch celebration. Moreover, it’s reported that the entrepreneur intends to allocate a portion of the revenue from initial sales to charities, including the Children’s Craniofacial Association, Museo Frida Kahlo, and Palacio de Bellas Artes.
Mobarak describes himself as an 'art alchemist' who is turning traditional artwork into digital assets, supporting various cultural institutions in Mexico, including the Frida Kahlo Museum in Coyoacan, the Palace of Fine Arts, and the National School of Plastic Arts in Mexico City. Linkedin profile .
Despite his claims, the recent act hasn't been viewed as a legitimate art performance or charity by Mexico’s National Institute of Fine Arts and Literature. The act of destroying an iconic piece of art is considered illegal, prompting an investigation by the Mexican authorities.
The project hasn't garnered much acclaim in terms of artistic merit; as of now, only 27 NFTs have been minted across eight wallets.
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