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No, Sickos, You Can't Buy an NFT to Destroy a Basquiat (Today)


Photo: Ray Stubblebine; not the NFT Basquiat, AP
A Jean-Michel Basquiat has possibly averted annihilation by NFT. Earlier this week, a seller who only identified themselves as “DAYstrom” attempted to auction an NFT of Basquiat’s 1986 drawing
Free Comb with Pagoda, granting the winner the option to destroy the work so that only the NFT would survive. Whether the whole thing is a genuine sales pitch or ticket scalping or a joke or an artwork plumbing the nihilistic depths of NFTs, DAYstrom made the point: Some people just want to watch the world burn.
The Art Newspaper reports that the Basquiat estate had the piece removed from OpenSea by asserting the estate’s ownership of licensing rights and copyright. In a bizarre release, DAYstrom had advertised not only the conference of the digital token but “all related IP and copyright in perpetuity.” So presumably, the buyer would not receive said work, only the digitised token of the work, and the right to either ....

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