The founder of the Tron blockchain network, Justin Sun, acquired a banana taped to a wall for $6.24 million at a Sotheby's modern art auction in New York. This is not just any fruit, but a famous artwork titled Comedian, created by Italian artist Maurizio Cattelan. The sale price significantly exceeded the pre-auction estimate of $1-1.5 million.
The artwork Comedian first went viral in 2019. There are three editions of it. The Italian artist’s work is perceived as a critique of the absurd luxury of the contemporary art market. Sun described the banana as a “cultural phenomenon that bridges the worlds of art, memes, and the crypto community.”
Sun won the piece after a tense competition with six other bidders, with his representation coming from Sotheby's office in China. The purchase includes the banana, tape, a certificate of authenticity, and detailed instructions for replacing the banana as needed. The entrepreneur stated that he plans to eat the banana soon, viewing it as part of the artistic experience.
“I believe this artwork will inspire reflection and discussion in the future and become part of history. It is a great honor for me to own a symbol that uniquely connects art and culture,” Sun wrote.
Many view this acquisition as a strategic move to draw attention to Sun's cryptocurrency projects, as he is known for his flashy purchases and promotional stunts. For instance, this year, he offered to buy Bitcoin directly from the German government to avoid its sale on the open market.
Interestingly, Sun purchased the artwork Comedian shortly after a cryptocurrency inspired by it, called Banana Tape Wall (BTW), was listed on Binance. Following the announcement from the largest exchange, the meme coin's value surged by 120%, although the increase was not as pronounced in subsequent spikes.
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