Crypto Tycoon Justin Sun Buys $6.2M Banana Artwork

Crypto mogul Justin Sun has purchased Maurizio Cattelan's conceptual artwork 'Comedian' a banana duct-taped to a wall for an astonishing $6.2 million at a Sotheby's auction in New York.

This sale far exceeded the initial valuation of $1–1.5 million, with seven bidders competing for the piece.

Originally unveiled at the 2019 Art Basel Miami Beach exhibition with a price tag of $120,000, 'Comedian' has been at the center of discussions about the boundaries and absurdities of contemporary art.

The artwork gained notoriety when performance artist David Datuna ate the displayed banana, highlighting its ephemeral nature.

Justin Sun, the founder of the blockchain platform Tron, explained his purchase as more than just acquiring art.

"This represents a phenomenon that bridges art, memes, and cryptocurrency," he stated, emphasizing the cultural significance of the piece.

Sun also mentioned plans to eat the banana as part of experiencing the artwork.

The purchase includes a certificate of authenticity and instructions to replace the banana due to its perishability, showing the artwork's critique of the speculative nature of the art market.

This acquisition is part of Sun's ongoing efforts to blend art and technology, following his previous purchase of Alberto Giacometti’s 'Le Nez' for $78.4 million.