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Blockchain company Injective Protocol bought a painting by street artist Banksy Morons from a New York gallery for $ 95,000 to burn and turn into a digital asset, CBS reported.

The Pest Control agency, created by the artist, has confirmed the authenticity of the work. After being burned and broadcast live, the painting was turned into a non-fungible token.

"We view this burning event as an expression of art itself,"  Injective Protocol executive Mirza Uddin said, adding, "We specifically chose a Banksy piece since he has previously shredded one of his own artworks at an auction."

Photo: Getty Images

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