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Mexican Government Investigative Collector Claims He Burned Frida Kahlo Painting For NFT Charity Project

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A Florida man who set a suspected $10 million Frida Kahlo lottery ablaze as part of the launch of NFTs (Non-Fungible Tokens) is under federal criminal investigation in Mexico.

Mexican tech entrepreneur and creator of cryptocurrency AGCoin, Martin Mobarak, filmed his fire stunt during a private event at his Miami mansion on July 30. mexico daily post reportGuests were invited to launch the “Exclusive NFT Collection” produced by Mobarak’s project Frida.NFT.minting 10,000 digital editions Phantasmornes Siniestros, a painting by Kahlo. His YouTube footage posted by Frida.NFT shows Mobarak’s unveiling ceremony. A piece on paper that looks like Phantasmornes Siniestros (1944), unscrews it from the frame and sets it in a martini glass of dry ice and fuel.

As the documentation of the event spread, it also attracted the attention of Mexico’s leading cultural authority, the National Institute of Arts and Letters. The institute announced Monday that it was investigating the destruction of Kahlo’s work because it is a national treasure. “In Mexico, the deliberate destruction of artistic monuments constitutes a crime in terms of federal law on archaeological, artistic and historical monuments and zones,” the statement said.

Mobarak claims that a portion of the proceeds from the sale of the 3 Ethereum (currently around $4,000) NFT will be donated to charities such as the Frida Kahlo Museum in Mexico City, the Palazzo Bellas Artes, and the Children’s Craniofacial Society. I’m here. Frida.NFT describes itself as “a pioneer in innovative blockchain technology that is reinventing the charity industry to increase transparency, donation frequency and donor incentives.” NFT owners will receive high-resolution images of the raffle and perks like “access to luxury amenities, unique experiences and exclusive events around the world,” the website says.

Phantasmornes Siniestros (or “Sinister Ghost”) was originally a two-sided drawing Kahlo made in her journal, depicting a horde of creatures in ink and watercolor. The artist gave it as a gift to Venezuelan art critic Juan Rol, which eventually landed him a position at New York-based gallery Mary Ann Martin Fine Art. Martin says he sold the painting to his Vergel Foundation in 2004 and to a private collector in 2013. To Vise(The work is exhibited At least twice, in Kahlo’s retrospective at the Gropius Bau in 2010 and as part of a traveling exhibition in 2012-13 Frida and Diego: passion, politics, paintingArt Gallery of Ontario, High Museum of Art, Olmedo Museum of Mexico)

Mobarak says on his website that he purchased the work from Martin in 2015.But the New York dealer said Vise She hadn’t sold him any paintings and hadn’t heard of him until last week. “The whole thing is creepy,” she told the publication.

The National Institute of Arts and Culture says it is currently gathering information to confirm whether the destroyed work is original. The Frida.NFT website notes that the work was authenticated by Mexican art dealer Andres Siegel on the day of its cremation and was then placed under security guard custody and protected until the event. claims to be so. “This painting has been fully migrated to the metaverse on July 30, 2022,” reads the website. Exceleon Magazinesaid Mobarak, who grew up in Mexico City He has a lifelong appreciation for Kahlo’s museum. He visited several times as a student. He also hinted that this is the first of several of his NFT collections based on artwork from his own collections. “As the current owner of the painting, I have a vision that royalties from NFT sales and collections will make lasting donations to multiple organizations for the poor,” he says.

Mobarak isn’t the only wealthy person researching physical art, NFTs, and the combustible intersection of fire. Damien Hirst will burn many of his works in London next month as part of a project where collectors had to choose between retaining ownership of the physical objects or receiving NFTs instead. is planning