Crypto Entrepreneur Acquires Banana for $6.2 Million
A crypto investor named Justin Sun has purchased a viral art piece from 2019, which features a banana duct-taped to a wall. He has indicated his intention to eat it. Read Full Article at RT.com
TroibNews 
The world’s “most expensive banana,” as referred to by some media, has just been auctioned at Sotheby’s in New York. The auction house sold the viral 2019 artwork by Italian artist and prankster Maurizio Cattelan for an impressive $6.2 million.
This conceptual artwork, titled ‘Comedian,’ consists of a banana duct-taped to a wall. It first gained widespread attention at Art Basel Miami Beach in 2019, where it was initially priced between $120,000 and $150,000. During its debut, an image of the duct-taped banana went viral on social media. Additionally, performance artist David Datuna famously tore the banana from the wall and ate it. The exhibit was eventually taken down.
The artwork became a media sensation and was featured on the cover of the New York Post. Cattelan himself described the piece as a satirical commentary on market speculation, challenging the idea of how value is assigned to an object within the art system.
In total, Cattelan produced three editions of this artwork, all of which were sold. One version was given to the Guggenheim Collection by an anonymous benefactor, while the other two remained in private ownership. One of those owners chose to resell their piece, leading to its auction at Sotheby’s, as reported by CNBC.
Justin Sun, a Chinese-born entrepreneur and investor known for operating a crypto exchange and the TRON blockchain ecosystem, ultimately acquired the artwork. He emerged as the highest bidder amid competition from six other buyers, according to CNBC.
Sun announced on X that he purchased the piece for $6.2 million, stating, “I’m thrilled to announce that I’ve bought the banana,” and calling it a “cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.” He expressed hope that “this piece will inspire more thought and discussion in the future and will become a part of history,” looking forward to its potential to inspire art enthusiasts globally.
The businessman also mentioned his intention to “personally eat the banana” soon as part of this unique artistic experience.
However, reports indicate that Sun did not actually acquire the fruit itself. Instead, for his $6.2 million, he received a roll of duct tape, instructions on how to "install" the banana, and a certificate ensuring the authenticity of the original work by Cattelan. Notably, the banana would need to be replaced regularly due to its tendency to rot.
According to CNBC, the value assigned to the artwork, based on a certificate rather than the physical object, positioned it similarly to an NFT in the crypto community. An NFT, or non-fungible token, serves as a unique digital identifier on a blockchain that verifies ownership or authenticity of a particular item.
Mark B Thomas for TROIB News
This conceptual artwork, titled ‘Comedian,’ consists of a banana duct-taped to a wall. It first gained widespread attention at Art Basel Miami Beach in 2019, where it was initially priced between $120,000 and $150,000. During its debut, an image of the duct-taped banana went viral on social media. Additionally, performance artist David Datuna famously tore the banana from the wall and ate it. The exhibit was eventually taken down.
The artwork became a media sensation and was featured on the cover of the New York Post. Cattelan himself described the piece as a satirical commentary on market speculation, challenging the idea of how value is assigned to an object within the art system.
In total, Cattelan produced three editions of this artwork, all of which were sold. One version was given to the Guggenheim Collection by an anonymous benefactor, while the other two remained in private ownership. One of those owners chose to resell their piece, leading to its auction at Sotheby’s, as reported by CNBC.
Justin Sun, a Chinese-born entrepreneur and investor known for operating a crypto exchange and the TRON blockchain ecosystem, ultimately acquired the artwork. He emerged as the highest bidder amid competition from six other buyers, according to CNBC.
Sun announced on X that he purchased the piece for $6.2 million, stating, “I’m thrilled to announce that I’ve bought the banana,” and calling it a “cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.” He expressed hope that “this piece will inspire more thought and discussion in the future and will become a part of history,” looking forward to its potential to inspire art enthusiasts globally.
The businessman also mentioned his intention to “personally eat the banana” soon as part of this unique artistic experience.
However, reports indicate that Sun did not actually acquire the fruit itself. Instead, for his $6.2 million, he received a roll of duct tape, instructions on how to "install" the banana, and a certificate ensuring the authenticity of the original work by Cattelan. Notably, the banana would need to be replaced regularly due to its tendency to rot.
According to CNBC, the value assigned to the artwork, based on a certificate rather than the physical object, positioned it similarly to an NFT in the crypto community. An NFT, or non-fungible token, serves as a unique digital identifier on a blockchain that verifies ownership or authenticity of a particular item.
Mark B Thomas for TROIB News
