The artwork is titled
morons, a piece from 2006 that satirizes the record-breaking sale of Van Gogh’s
Sunflowers in 1987; on the work is written, “I can’t believe you morons actually buy this sh*t.”
morons was valued at $95,000 USD, originally bought from New York’s Taglialatella Gallery, but that value is now up in the air.
Before burning the artwork, the crypto fans digitized the piece using blockchain technology on SuperFarm, preserving it in its digital form. “We specifically chose a Banksy piece since he has previously shredded one of his own artworks at an auction,” notes one of the members. “We view this burning event as an expression of art itself. We are generating a new form of artwork via the creation of this unique NFT that is a direct representation of the physical.”