Burn your NFT to get Banksy’s job, LCD Lab’s dilemma

LCD Lab will soon release their collection of NFT Banksy Radar Rats. Save your NFT or burn it in exchange for real work, that is the question. Will there be success?

NFTs, as we have seen, are not necessarily completely separate from the real world. Some of them may be directly or indirectly related to very tangible objects or events. A new example today is from LCD Lab, which will soon be launching a collection of NFTs whose copies can be burned to claim the work of urban artist Banksy in the real world. Each work has obviously been valued and is currently worth between 1200 and 1500 euros.

LCD Lab to Launch Banksy Radar Rats NFT Collection Soon

It is from September 17 that this Banksy Radar Rat collection will be open. 1,000 copies can be purchased from the Magic Eden Marketplace on the Solana Blockchain (SOL). The price per unit will be 1000 US dollars, payment will be made in salt lari. Please note, to hope to be whitelisted in this sale, you must have at least 5 NFT stone heads, LCD Lab’s first collection and picture will be taken on September 11th. The current minimum price is sol 2.35.

Save your NFT or burn it in exchange for real work, that is the question

Radar Rats owners can then choose to keep their NFT or destroy it to get a copy of Banksy’s “Walled Off Hotel Box Set”collection, which also had to work from home during the pandemic. These works are valued at around 6,000 copies worldwide, with a unit price on the French market ranging from €1,200 to €1,500. Initially sold to customers at the Banksy Walled Off Hotel in Bethlehem, Palestine, they were later acquired by LCD Lab through the collector’s work of co-founder Baptiste Ozenn.

This initiative is also very symbolic for the latter:

Through this project, we will be able to democratize access to established works with solid ratings. This is a new way to use NFT by backing up a digital asset to a physical asset.

Will there be success?

Until the Radar Rats owner burns his NFT, the related real-world work is stored at the LCD Lab in Paris. It’s a bit like keeping a piece of art in a jar. In fact, the decision to keep the NFT is a form of speculation on a possible Banksy rating upgrade. It will also allow you to take advantage of some future LCD Lab initiatives. It might be interesting.