NFT enthusiasts can be caught up in questionable stunts. The Mexican government and the art world were incensed by the event where a man burned a drawing he claimed was a real one by the Mexican artist.
Hundreds of onlookers cheer to the backing of a Mariachi band in a promotional video for a July event. The host and apparent owner of the drawing set it on fire while it was in the bar.
Mobarak's company mints 10,000 NFTs for the work of one of Mexico's most important artists.
The result is soul crushing? Four have been sold so far.
The NFT collection will be transformed to live eternally in the digital realm, according to Mobarak.
Many people have doubts about the validity of his claims. It's questionable as to whether he had a genuine copy of the drawing in the first place. The NFT venture is just being a scam. It's not uncommon.
A look into the drawing's provenance shows that it was sold to a private collector. Mary-Anne Martin denied selling it to Mobarak and told Vice that she had no idea who he was. Mobarak told Vice that he purchased the Kahlo from a private collector.
Mexico's National Institute of Fine Arts and Literature said in a September statement that the fiasco was worrying enough for them to launch an investigation for possibly constituting a crime in terms of the federal law on archaeological, artistic and historical monuments and zones.
Mobarak could be in legal hot water even if it wasn't real, according to a lawyer.
She told the NYT that he was breaking one law if he burned it. If it was a reproduction, then he could have violated the law. It could be a case of fraud if he copied the original.
A former Mexican diplomat said that the man should be put in jail.
Paying royalties to artists is optional now.
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