Chinese crypto entrepreneur who bought duct-taped banana for $6.2M might just eat it

Justin Sun, a cryptocurrency entrepreneur, purchased an artwork with a banana taped to a wall for $6.24 million (?53 crore) at Sotheby's auction in New York. He has stated that he intends to eat it.Italian artist Maurizio Cattelan produced the odd banana artwork, which he titled Comedian. It was initially sold by Perrotin Gallery in 2019.

It was placed up for sale after Sotheby's globe tour, which included a stop in Hong Kong, where Sun lives, and was owned by an unidentified collector.

Chinese crypto mogul is an avid art collector

Sun, an ardent art collector, has previously purchased both NFTs and traditional blue chip paintings. In 2021, he paid $78.4 million for a $20 million painting by Pablo Picasso and Le Nez, as well as an Alberto Giacometti sculpture. The proprietor of cryptocurrency Tron told Barron's that after learning about the artwork, he researched the definition of conceptual art.?

"It took me some time to grasp the concept of conceptual art in the first place. Its true value is in the process rather than the end result," he added, adding that conceptual art shares many similarities with decentralized cryptocurrencies and meme cultures.

Bidding for the banana artwork began at $800,000 and quickly increased to $1.5 million as seven bidders competed for the taped fruit.?

The entrepreneur had many ideas about the artwork

Sun has offered a few suggestions for what would happen to the notorious artwork once he has it in his possession.He stated that after watching a SpaceX rocket launch lately, he had a "crazy idea" to glue Cattelan's banana to a spaceship and send it to the moon.?

He has also stated his intention to exhibit it. However, he recently revealed that he will very likely consume it and "complete the decentralised cycle of this artwork."?

Also read:?Chinese Crypto mogul pays $6.2M for iconic art piece- banana duct-taped to a wall

What do you think about this? Tell us in the comments.

To stay updated on the stories that are going viral follow?Indiatimes Trending.?