The founder of TRON, Justin Sun, spent $6.2 million at an auction in New York for an artwork consisting of a banana taped to a wall. Now, he plans to eat it.
"I bought the banana," Sun wrote in a post on X on November 21. "This is not just an artwork; it represents a cultural phenomenon connecting the worlds of art, meme, and the Cryptocurrency community."
"In the coming days, I will eat this banana myself as part of a unique artistic experience," he emphasized.
The work is Maurizio Cattelan's "Comedian," which is essentially a fresh banana taped to a wall. However, the owner of the artwork can replace the banana when it rots and the tape when necessary, so Sun has essentially paid for the instructions on how to tape a banana to a wall and a certificate of authenticity to call it Comedian.
Sotheby's, the auction house that organized the sale, said on X that there was "over six minutes of fierce bidding" for the work, the first time it had been auctioned.
The auction started at $800K and quickly escalated to millions of dollars as the auctioneer joked that "it's slipping through the auction room" and urged the bidders "not to let it slip away" amid murmurs in the audience.
Sun outbid six others with a final bid of $5.2 million, plus $1 million in Sotheby's fees — more than four times the pre-auction estimate of $1 million to $1.5 million.
Perhaps Sun needs all the nutrients he can get.
The TRON founder's blockchain technology processes a large portion of the trading volume for the world's largest stablecoin, Tether (USDT), which has been accused of being under criminal investigation by the U.S. Department of Justice.
Sun is also reportedly under criminal investigation by the FBI and New York prosecutors.
In March 2023, Sun was also sued by the Securities and Exchange Commission along with TRON for allegedly selling unregistered TRON (TRX) Tokens and engaging in wash trading to inflate prices, which he denies.
If Sun eats this banana, he will be the third recorded case of someone eating this artwork.
Last April, a student ate the banana when the work was on display at an art museum in Seoul and then taped the banana peel back to the wall. He later said he ate it because he had skipped breakfast and was hungry.
The first dramatic incident with the banana occurred when artist David Datuna ate the artwork after it was sold for $120K at Miami Art Basel in 2019. The banana was then replaced, and he faced no legal consequences.
NFT Creator: Controversial crypto "protest art" expert — Patrick Amadon
Compiled by Bitcoin NewsJustin Sun Spent $6 Million on a Banana and Plans to Eat It
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The founder of TRON, Justin Sun, spent $6.2 million at an auction in New York for an artwork consisting of a banana taped to a wall. Now, he plans to eat it.
"I bought the banana," Sun wrote in a post on X on November 21. "This is not just an artwork; it represents a cultural phenomenon connecting the worlds of art, meme, and the Cryptocurrency community."
"In the coming days, I will eat this banana myself as part of a unique artistic experience," he emphasized.
The work is Maurizio Cattelan's "Comedian," which is essentially a fresh banana taped to a wall. However, the owner of the artwork can replace the banana when it rots and the tape when necessary, so Sun has essentially paid for the instructions on how to tape a banana to a wall and a certificate of authenticity to call it Comedian.
Sotheby's, the auction house that organized the sale, said on X that there was "over six minutes of fierce bidding" for the work, the first time it had been auctioned.
The auction started at $800K and quickly escalated to millions of dollars as the auctioneer joked that "it's slipping through the auction room" and urged the bidders "not to let it slip away" amid murmurs in the audience.
Sun outbid six others with a final bid of $5.2 million, plus $1 million in Sotheby's fees — more than four times the pre-auction estimate of $1 million to $1.5 million.
Perhaps Sun needs all the nutrients he can get.
The TRON founder's blockchain technology processes a large portion of the trading volume for the world's largest stablecoin, Tether (USDT), which has been accused of being under criminal investigation by the U.S. Department of Justice.
Sun is also reportedly under criminal investigation by the FBI and New York prosecutors.
In March 2023, Sun was also sued by the Securities and Exchange Commission along with TRON for allegedly selling unregistered TRON (TRX) Tokens and engaging in wash trading to inflate prices, which he denies.
If Sun eats this banana, he will be the third recorded case of someone eating this artwork.
Last April, a student ate the banana when the work was on display at an art museum in Seoul and then taped the banana peel back to the wall. He later said he ate it because he had skipped breakfast and was hungry.
The first dramatic incident with the banana occurred when artist David Datuna ate the artwork after it was sold for $120K at Miami Art Basel in 2019. The banana was then replaced, and he faced no legal consequences.
NFT Creator: Controversial crypto "protest art" expert — Patrick Amadon
Compiled by Bitcoin News
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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