The founding father of a notable cryptocurrency platform surprised everyone after making an unexpected purchase of a bizarre piece of “art.”

Crypto entrepreneur Justin Sun is now in possession of the controversial banana duct-taped to a wall artwork which some analysts suggest is perhaps integrated into Sun’s digital asset platform using the APENFT.

Converting Art Into NFTs

Maurizio Cattelan’s iconic masterpiece “Comedian” has been purchased by the TRON founder for a whopping $6.2 million. Like many individuals all over the world, Sun seems to have been captivated by the “banana duct-taped on a wall” art.

Some observers said that Sun saw something beyond the great thing about the artwork, suggesting that the crypto entrepreneur is perhaps taken with using the art in his blockchain ecosystem.

Analysts imagine that Justin Sun incorporates the artwork he has been collecting into the TRON network with the assistance of APENFT, saying that Sun’s true objective in art collection is to convert these masterpieces into non-fungible tokens (NFTs).

Under the crypto platform, its TRC-721 NFT standard permits the creation and transaction of digital art.

The crypto platform is understood to be the third largest chain when talking about total value locked (TVL). DeFiLlama estimated that the network dominates nearly 7% of the TVL market with its 34 protocols.

As of Thursday, the market cap of cryptocurrencies reached $3.18 trillion. Chart: TradingView

A Symbolic Gesture?

Reports said that the TRON executive purchasing the banana duct-taped on a wall art is perhaps a “symbolic gesture” to include the artwork into the digital NFTs space.

The APENFT Foundation established by the crypto founder buys artworks. Then, it turns these masterpieces into digitally viewable pieces on the APENFT Virtual Museum within the metaverse Cryptovoxels.

TRON Founder Justin Sun. Image: Kryptomoney

Analysts said that the APENFT Marketplace, an NFT trading platform launched by APENFT on TRON, features collections like TPunks and TronMe. The crypto network also has TronVerse, a play-to-earn game that uses NFTs.

With the assistance of the platform’s TRC-721 standard and the APENFT ecosystem, the crypto entrepreneur can create an art display within the metaverse and place TRON as a serious NFT player.

Other Art Collections

As an art collector, Justin Sun has been investing in acquiring top artworks. Sun viewed the “Comedian” as greater than a banana on duct tape.

“It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community,” he said.

Reports said that the TRON founder was capable of beat the bids of six other individuals to take home the contemporary artwork.

Except for the “Comedian”, Sun previously purchased Alberto Giacometti’s “Le Nez” for $78.4 million in an auction in 2021. He also shelled out $20 million to accumulate considered one of the masterpieces of the renowned painter Pablo Picasso.

The crypto founder can be the proud owner of Andy Warhol’s Three Self-Portraits which he bought for $2 million during Christie’s twentieth Century Art Evening Sale.

Featured image from Kena Betancur/AFP/Getty Images/AFP, chart from TradingView