Buenos Aires, Oct 4 (Businesshala) – Argentine artist Leandro Granato, known for his ‘eye painting’ technique, has destroyed five of his works to create art that now only exists in the digital world.
Using homemade explosive devices, Granato blew up five of his works, worth $70,000, to create non-fungible token (NFT) artifacts here.
“Out of these five works, two have already been sold, two have been booked, and there is only one left to sell. That means I have to start working on the second piece and also think about how I’m going to destroy them,” Granato said.
In one video, Granato can be seen picking up the remains of the canvas, which will be distributed to each buyer as proof of its destruction.
Years ago, Granato stunned the world by applying paint to his nostrils and pouring it out through his tear ducts.
Selling many of his pieces overseas and seeing the insecurity of the art market, he decided to explore crypto art. Bought and sold alongside cryptocurrencies such as bitcoin and ethereum, NFTs limit counterfeiting by using blockchain technology.
The market for NFTs is growing here, although skeptics warn of a bubble here, and many people are confused as to why so much money is being spent on items that don’t physically exist.