He claims the ‘cultural phenomenon bridges the worlds of art, memes, and the cryptocurrency community’
A cryptocurrency entrepreneur who spent an astronomical amount of money on a controversial art piece, featuring a banana and some duct tape, has revealed what he plans to do with his purchase.
Justin Sun left people baffled when he shared that he had spent an eye-watering $6.2 million buying Italian artist Maurizio Cattelan’s ‘Comedian’ piece.
The artwork has been garnering attention all over the world for its obscurity, for the fact it is simply a singular banana stuck to a wall with a piece of duct tape.
Sun fought off competition from six other buyers when purchasing the piece at a Sotheby’s auction in New York earlier this week.
“I believe this piece will inspire more thought and discussion in the future and will become a part of history,” Sun explained in a post on X.
“I am honored to be the proud owner of this iconic work and look forward to it sparking further inspiration and impact for art enthusiasts around the world.”
What does he plan to do with it, you may ask? Well, he plans to eat it, of course.
“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture.”
Explaining exactly why he wanted to make the purchase, he added: “This is not just an artwork; it represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”
Sun, who founded the cryptocurrency TRON, won’t actually receive a banana as part of his purchase, though. Instead, he will receive a roll of duct tape giving instructions on how to install a banana of his choosing, in addition to a certificate of authenticity – which is essentially what the purchase is all about.
I’m thrilled to announce that I’ve bought the banana🍌 !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C
— H.E. Justin Sun 🍌 (@justinsuntron) November 21, 2024
Speaking to the Associated Press, David Galperin explained: “What Cattelan is really doing is turning a mirror to the contemporary art world and asking questions, provoking thought about how we ascribe value to artworks, what we define as an artwork.
“What you buy when you buy Cattelan’s Comedian is not the banana itself, but a certificate of authenticity that grants the owner the permission and authority to reproduce this banana and duct tape on their wall as an original artwork by Maurizio Cattelan.”
The unusual piece was first displayed at Art Basel Miami back in 2019, where it was listed for a slightly more modest $120,000. Three editions have been purchased, though none for as staggeringly high as the edition bought by Sun, who, of course, paid for the art using cryptocurrency
