A Non - Fungible Token ( NFT ) enthusiast has burned a invaluable draught in the manifestly mistaken opinion that it would increase the artwork ’s value on the blockchain . As well as not recouping anywhere near the art ’s economic value , the artist is under investigation by Mexican confidence for the stunt .

Businessman Martin Mobarak burned the artwork by acclaimed Mexican creative person Frida Kahlo , mint 10,000 NFTs depicting it , which he must have believed to be more valuable than the work itself . The drawing , however , wasworth around $ 10 millionprior to combustion , while only four NFTs have been sell so faraccording to the New York Times , raising around $ 11,000 .

“ Like a Phoenix rise from its ashes , this collection of 10,000 NFT ’s represents the rebirth & immortality of a timeless bit by Frida Kahlo , Fantasmones Siniestros , " Mobaraksaid in a statementprior to what looked a bunch more like a bog - standard burning than a rebirth .

" This musical composition will be transform to live everlastingly in the digital realm Saturday nighttime in Miami " .

Specifically by transforming it from a drawing into a drawing that had been burned .

“ People may see it as I destroyed it . But I did n’t , ” Mobaraktold Vice . “ This elbow room I am bring it to the world . I am letting everybody see it . I remember it does more good for the humans and makes a statement rather than just sitting in someone ’s private collection . ”

In September , the National Institute of Fine Arts and Literature confirmed that an investigation was taking seat into the destruction of the drafting .

“ The calculated devastation of an artistic monument constitutes a offense in footing of the Union practice of law on archaeological , artistic and historical monuments and zones , ” the organization enunciate in astatement see by the New York Times .

There have been suggestions that the drawing itself could have been a counterfeit . However , this would not get Mobarak out of the situation without other legal repercussions .

“ If he did actually burn it , he is breaking one law of nature , ” lawyer specializing in cultural heritage police force , Leila Amineddoleh , say the New York Times . “ And if he did n’t , if it was a replication , then he might have violated copyright law . And if he copied the master copy with an spirit to lead astray , it could be fraud . ”

Mobaraktold Vicethat the art was a genuine original , which he buy from a private collector back in 2015 .