Justin Sun, founder of Tron Foundation, a blockchain company, spent $6.2 million on a ripening banana duct-taped to a wall, a piece by prankster artist Maurizio Cattelan. 

Sun will get a roll of duct tape, instructions on how to “install” the banana and a certificate of authenticity guaranteeing it as an original work, but the banana is not included, since it will rot.

😤😤😤

https://www.cnbc.com/2024/11/21/crypto-investor-justin-sun-banana-comedian-sotheby-auction.html

 #🖼📷Art ?  #Crypto

Crypto investor pays $6 million for a banana — and plans to eat it

🖼📷Art

Crypto

Justin Sun, founder of Tron Foundation, a blockchain company, spent $6.2 million on a ripening banana duct-taped to a wall, a piece by prankster artist Maurizio Cattelan.   Sun will get a roll of duct tape, instructions on how to “install” the banana and a certificate of authenticity guaranteeing it as an original work, but the banana is not included, since it will rot.  😤😤😤  https://www.cnbc.com/2024/11/21/crypto-investor-justin-sun-banana-comedian-sotheby-auction.html   #🖼📷Art ?  #Crypto

Bobby

If 2024 more closely resembled 2021 or 2022 in crypto, the auction houses would’ve spent the past week touting digital wares. Yet not a single attention-grabbing Crypto Punk, Bored Ape or Pudgy Penguin traded hands. That’s not a tragedy. It suggests the entire crypto industry might be at a more mature stage of existence (though I won’t go as far as to suggest this will bring all that much more stability in asset prices).

“It’s an odd time in the market because I think NFTs, broadly, are still trying to find their audience—there is an audience, but it’s obviously much smaller than a lot of people assumed,” Beeple said when I called him this week to catch up. He too has slipped out of my view in the last couple years. “A lot of people were just in it for the speculation of it. Like, ‘OK, can I make some money off this? No? Then actually I don’t give a shit about this.’”

Sam Mendoza

In 2021, Sun very narrowly missed getting his hands on “Everydays: The First 5,000 Days,” the record-shattering NFT project by the artist known as Beeple, which sold for nearly $70 million. The price made Beeple one of the best-selling living artists alongside names such as Jeff Koons and David Hockney. (For more perspective, it’s more than anyone has ever spent on a Dali.)

Todd Smith

Sun positioning himself in the spotlight of a splash sale of physical art should tell us about both digital art and crypto more generally. For now, the fringiest parts of crypto aren’t zooming off quite like they did before—a noticeable difference between today and a few years ago.

Bobby

A group of likeminded people in Crypto are talking about this.