¡LA FRIDA LOCA!
Firestorm after CEO sets Kahlo art ablaze
Who says crypto is going down in flames?
A Miami millionaire claimed to have burned a $10 million artwork by renowned painter Frida Kahlo as part of an NFT launch — and is now being investigated by officials in the late artist’s homeland of Mexico, according the country’s National Institute of Fine Arts and Literature.
Frida.NFT CEO Martin Mobarak filmed himself apparently setting the small and colorful Kahlo drawing ablaze at an event in July, in a stunt that was meant to promote his sale of digital versions of the rare work, which is considered a Mexican national treasure.
“I hope that everyone here can understand it, I hope everyone can see the positive side,” he said before removing what appeared to be the drawing, known as “Fantasmones Siniestros,” from its frame and setting it alight in a martini glass full of fuel.
Video from the event shows the image whither and curl in the flames as a small crowd cheers.
The event was ostensibly to promote Mobarak’s sale of 10,000 NFT copies of “Fantasmones Sinistros” by his latest venture, Frida.NFT.
Mobarak has claimed the sale of the NFTs — or non-fungible tokens — will benefit the Palace of Fine Arts in Mexico City, the Frida Kahlo Museum in Coyoacán and several charities dedicated to medical care for children.
“What we are going to do is change the lives of thousands of children,” Mobarak said.
Mexico’s National Institute of Fine Arts announced Monday it’s opening an investigation into the destruction of the drawing.
“In Mexico, the deliberate destruction of an artistic monument constitutes a crime in terms of the federal law on archaeological, artistic and historical monuments and zones,” the institute said in a statement.
The Palace of Fine Arts has yet to receive any donations from Mobarak or his company, Mexico’s National Institute of Fine Art and Literature added in a statement.
A spokesperson for Mobarak did not immediately respond to a request for comment.
On its website, Frida.NFT says the drawing has “permanently transitioned into the Metaverse.”
“Fantasmones Sinistros,” a work originally found in Kahlo’s diary, had previously been valued at $10 million.