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art collector, Martin Mobarakdidn’t seem to read the T&Cs on buying rare art and had a tough time this week. He came to the attention of Mexican authorities after he set fire to his NFT project by destroying real Frida Kahlo works.
At the end of July, Martin hosted a lavish ceremony featuring fire dancers, mariachi bands and scantily clad models. Frida KahloBasically, we plan to somehow subdivide our disjointed assets into 10k non-fungible tokens and turn that work into a collection of images and short animated videos.
But now Martin is on the wrong side of Mexican officials who were upset with his actions, claiming he may have violated federal law by not asking permission to destroy the artwork. I noticed. In a nutshell, Mexico designated the work of Frida Kahlo national treasure Dating back to 1984, the unlawful destruction of her painting represents a criminal act, meaning the reproduction rights are firmly owned by the Bank of Mexico.
There is currently a heated debate raging over whether NFTs represent anything of value without backing up the original drawings.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
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