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Chinese entrepreneur Justin Sun, known for his cryptocurrency ventures, recently purchased an artwork consisting of a banana duct-taped to a wall for a staggering $6.2 million.
At a press conference in Hong Kong, Sun fulfilled his promise to consume the banana, drawing a comparison between the artwork and cryptocurrency. He explained that the performance became part of the artwork’s history.
Sun’s purchase granted him the right to display the installation, including instructions on replacing the banana. It has been replaced twice before, but never for such a high price.
Sun expressed fascination with the work, raising questions about the banana’s decay. He noted that the fresh banana used in the artwork was purchased for only 35 cents.
As a souvenir, attendees at the event received bananas and duct tape. Sun remarked that everyone could enjoy a banana.
Sun runs Tron, a blockchain network for cryptocurrency trading. He likened the artwork to NFTs, digital artworks with value derived from public perception.
Sun has faced charges from the US Securities and Exchange Commission for unregistered security tokens, which he denies. Additionally, he recently invested $30 million in a crypto project supported by former US President Donald Trump.