Frida Kahlo drawing worth more than $10 million set ablaze

A Frida Kahlo drawing that might have been worth over $10 million was set ablaze this week to mint 10,000 non-fungible token or NFTs by a Mexican businessman in Miami.

There is a minor catch, though: No one knows for sure if the Kahlo drawing was real or fake, or even if the drawing was actually valued at $10 million or more.

How smart money is playing the game of criptocurrency.

It's nothing more than a publicity stunt by a man who said he was going to change the lives of thousands of children. The drawing named Fantasmones Siniestros, or Sinister Ghost, was sketched in Kahlo's diary and burned by Mexican businessman Martin Mobarak, who incinerated the drawing to sell 10,000 NFTs of the drawing, valued at $4,000 apiece 3 ETH This would effectively mean he converted a $10 million drawing into a $40 million collection of NFTs.

Many people are furious about the businessman's decision to convert a tangible piece of art into NFTs, with Mexico's major art institutions saying the crime should be investigated.

Mobarak claims that he will set aside some of the earnings for charity, particularly for victims of domestic violence, autistic children, and even the Frida Kahlo museum.

It's possible that people will see it as I destroyed it. Mobarak told VICE that he didn't. I am bringing it to the world. I think it does more good for the world and makes a statement rather than sitting in someone's private collection.