Because the standard says so.

https://eips.ethereum.org/EIPS/eip-721

/// @dev This emits when ownership of any NFT changes by any mechanism.
///  This event emits when NFTs are created (`from` == 0) and destroyed
///  (`to` == 0). Exception: during contract creation, any number of NFTs
///  may be created and assigned without emitting Transfer. At the time of
///  any transfer, the approved address for that NFT (if any) is reset to none.
event Transfer(address indexed _from, address indexed _to, uint256 indexed _tokenId);
Answer from William Entriken on Stack Exchange
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OpenSea
opensea.io › Null-Address
Opensea
Status · Chains · Collections · Collection · Recently received · Aggregating · Networks · Terms of Service · $4,482.41 · Support
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OpenSea
opensea.io › NullAddress
NullAddress - Profile | OpenSea
May 31, 2022 - Check out NullAddress's NFTs on OpenSea, the largest marketplace for crypto collectibles.
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GitHub
github.com › ProjectOpenSea › opensea-js › issues › 543
OpenSea-sdk always return nullAddress owner · Issue #543 · ProjectOpenSea/opensea-js
When calling seaPort.api.getAsset({ tokenAddress, tokenId }) always returns this inside the owner object. { "user": { "username": "NullAddress" }, "profile_img_url": "https://storage.googleapis.com/opensea-static/opensea-profile/1.png", ...
Author   ProjectOpenSea
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MetaMask
community.metamask.io › support › sending and receiving tokens
Transferring a token to the NULL address - Sending and Receiving Tokens - MetaMask
July 7, 2021 - Rarible and OpenSea have blocked transferring a token to the NULL address and they refuse to talk about it or answer any questions… If i transfer a token from within the MetaMask app to the NULL address is it equal to bu…
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OpenSea
opensea.io › collection › null-address-hashes
Null-Address Hashes - Collection | OpenSea
OpenSea is the world's first and largest web3 marketplace for NFTs and crypto collectibles. Browse, create, buy, sell, and auction NFTs using OpenSea today.
Find elsewhere
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Marble-cards
marble-cards.info › cards › 46580
NullAddress - Marble.Card #46580 - Marble Cards Info
January 18, 2020 - NullAddress - Marble.Card: 46580 - Collection: Opensea.io - Collection-ID: 1445
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Stack Overflow
stackoverflow.com › questions › 71397588 › opensea-api-returning-null-when-i-want-to-fetch-my-data
ethereum - OpenSea API returning null when i want to fetch my data - Stack Overflow
when i go to this link https://api.opensea.io/api/v1/assets?asset_contract_address=0x892848074ddea461a15f337250da3ce55580ca85 It returns me some data i can use. But when i tried to fetch MY assets ...
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OpenSea
opensea.io › null_addresses
null_addresses - Profile | OpenSea
Check out null_addresses's NFTs on OpenSea, the largest marketplace for crypto collectibles.
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Decrypt
decrypt.co › 80474 › 100000-worth-of-ethereum-nfts-destroyed-by-opensea-bug-eth-dev
$100,000 Worth of Ethereum NFTs Destroyed by OpenSea Bug: ETH Dev - Decrypt
September 9, 2021 - Johnson told Decrypt that he hasn’t heard anything from OpenSea yet regarding potential compensation for NFTs lost due to the bug. Late Wednesday evening, the company issued a statement via Twitter, which appears to be its only public comment on the matter thus far. "We've reached out to the small number of users who were affected by the issue yesterday where sending an NFT to an ENS name sent it to the encoded version of the literal text (e.g. "OS.eth") instead of the associated address," the company tweeted.
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Etherscan
etherscan.io › address › 0x000000000000000000000000000000000000dead
Null: 0x00...dEaD | Address: 0x00000000...00000dead | Etherscan
OpenSea Shared StorefrontOPENSTORE · x52126ERC-1155 · PAGE · ERC-1155 · parallelLL · x44ERC-1155 · PILLS · x14ERC-1155 · PixelChainPXC · x27ERC-721 · PixelChain MaxPXCM · x26ERC-721 · PixlsPIXL · x9ERC-721 · Portion Art TokenPAT · x27ERC-1155 ·
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Nolt
opensea.nolt.io › 1174
Sign in
Sorry, we don't support your browser. Install a modern browser · Sign in · Continue with email · Or use social login: · By continuing, you are indicating that you agree to the Nolt Terms of Service and Privacy Policy
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GitHub
github.com › nft-apis › opensea-nft-api
GitHub - nft-apis/opensea-nft-api: Discover Opensea NFT APIs and access trading data with Bitquery Streaming APIs. Learn about Opensea's move to Seaport protocol and explore NFT trading insights. · GitHub
Before starting with Opensea, let’s first see the API to get newly created/minted NFTs on Ethereum. In the following API, we are getting nonfungible transfers from NULL Address (0x0000000000000000000000000000000000000000).
Author   nft-apis
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Twitter
twitter.com › nassredean › status › 1362610043905073152
Twitter
JavaScript is not available · We’ve detected that JavaScript is disabled in this browser. Please enable JavaScript or switch to a supported browser to continue using twitter.com. You can see a list of supported browsers in our Help Center · Help Center · Terms of Service Privacy Policy ...
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GitHub
github.com › ProjectOpenSea › opensea-js › issues › 96
Null Owner · Issue #96 · ProjectOpenSea/opensea-js
April 28, 2021 - When calling this API , I get null owner for the requested asset, how can I retrieve a token's owner Off-chain and On-chain? https://api.opensea.io/api/v1/asset/0xd07dc4262bcdbf85190c01c996b4c0...
Author   ProjectOpenSea