A cryptocurrency entrepreneur, known for making extravagant purchases, has shared his plans for a highly debated art piece that features nothing more than a banana and some duct tape.
Justin Sun sparked confusion when he announced his $6.2 million acquisition of Italian artist Maurizio Cattelan’s ‘Comedian’.
This artwork has attracted global attention due to its simplicity—a banana adhered to a wall with duct tape.
Sun successfully outbid six other contenders to secure the piece at a recent Sotheby’s auction in New York.
“I believe this piece will inspire more thought and discussion in the future and will become a part of history,” Sun expressed 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.”
Sun intends to engage with the piece in an unconventional way by consuming the banana.
“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.”
Elaborating on his motivation for the purchase, he said: “This is not just an artwork; it represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”
Sun, the founder of the cryptocurrency TRON, won’t actually receive the banana itself. Instead, he will get a roll of duct tape with instructions on how to affix a banana of his choice, along with a certificate of authenticity, which is the core of this transaction.
Speaking with the Associated Press, David Galperin noted: “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 piece was first introduced at Art Basel Miami in 2019, initially priced at $120,000. Although three editions have been sold, none fetched a price as high as Sun’s, who completed the transaction using cryptocurrency.