Is Banksy's NFT a fake?

The artist’s team saysit’s fake. The NFT space continues to be weird and occasionally wonderful, but today’s story is going for some sort of award: a collector paid over $300,000 in Ethereum for an NFT from someone claiming to be Banksy after the image appeared on the famed street artist’s website.

How much did the burned Banksy NFT cost?

The Burned Banksy NFT was sold foraround £300,000 and featured an image of a Banksy print titled Morons. Originally sold in an edition of 500, the tokenised print was publicly burned as the token was minted, which its creators argued “moved the value of the physical piece on to the NFT”.

What are NFTS & how do they work?

With NFTs, artwork can be "tokenised" to create a digital certificate of ownership that can be bought and sold. They do not generally give the buyer the actual artwork or its copyright. The Banksy fan who got duped says he thought he was buying the world-famous graffiti artist's first ever NFT. What are NFTs and why are some worth millions?

Was Banksy's website hacked before a hacker scammed a fan?

Artist Banksy's team was warned his website had a security weakness seven days before a hacker scammed a fan out of $336,000 (£242,000). On Tuesday a piece of art was advertised on Banksy's official website as the world-renowned graffiti artist's first NFT (non-fungible token).