Paying $6.24 Million For A Duct-Taped Banana? Justin Sun Did Just That — And Now He'll Eat It 'As Part Of This Unique Artistic Experience'

Tron TRON/USD founder Justin Sun on Thursday announced he has purchased Maurizio Cattelan‘s controversial artwork, Comedian, for $6.24 million at a Sotheby's auction in New York.

What Happened: The piece, a banana duct-taped to a wall, has become a cultural icon, bridging the worlds of conceptual art, internet memes and the cryptocurrency community.

Sotheby's originally estimated the artwork to fetch between $1 million and $1.5 million.

However, intense bidding saw the price soar, culminating in a winning bid placed by Jen Hua, Sotheby's Deputy Chairman, on Sun's behalf.

The entire process lasted just six minutes, underscoring the artwork's enduring appeal.

Following the sale, Sun said, "This is not just an artwork; it represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community. I believe this piece will inspire more thought and discussion in the future and will become a part of history."

Originally unveiled in 2019, Comedian is part of an edition of three works with two artist's proofs.

Its certificate of authenticity includes detailed instructions for replacing the banana and duct tape as needed, emphasizing its conceptual nature over its physical components.

The artwork has been a commentary on value and consumerism.

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Speaking about the piece in 2021, Cattelan said, "To me, Comedian was not a joke; it was a sincere commentary and a reflection on what we value."

The banana in the artwork was reportedly purchased for just $0.35 earlier that day, according to the New York Times. Sun added a performative twist by announcing plans to eat 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," Sun sai.

This act follows similar performances by artist David Datuna and a South Korean art student in 2019 and 2023, respectively.

Sun's high-profile acquisition also rippled through the crypto market, particularly among meme coins inspired by the artwork.

The largest unaffiliated Comedian-themed token, Ban, dropped 37% following the auction, with its market cap falling from $241 million to $151 million before partially recovering to $175 million.

Another Comedian-themed token launched the day before the auction suffered a complete collapse, plunging from a theoretical market cap of $23.5 billion to just $281, according to DEX Screener.

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