For art, crypto or politics?

(CLO) On Friday (November 29), cryptocurrency entrepreneur Justin Sun fulfilled his promise by eating a banana in a “work of art” that he spent $6.2 million to buy at auction.

“Work of art”?

At one of Hong Kong's most expensive hotels, Sun munched on a banana in front of dozens of journalists and influencers after giving a speech praising the work as "iconic" and drawing parallels between conceptual art and cryptocurrencies.

“It tastes much better than other bananas,” Sun said after his first taste. “It’s really good.”

Chinese-born cryptocurrency founder Justin Sun ate a banana artwork that was auctioned for $6.2 million. Photo: AFP

Titled “Comedian,” the conceptual work created by Italian artist Maurizio Cattelan went up for auction at Sotheby’s in New York last week, with Sun one of seven bidders.

Sun said he felt "incredulous" for the first 10 seconds after winning the bid, before realising "this could turn into something big".

In the next 10 seconds, he decided to eat the banana. "Eating it at a press conference can also become part of the history of the artwork," he said on Friday.

The debut of this edible piece at the 2019 Art Basel exhibition in Miami Beach has sparked controversy and questions about whether it should be considered art at all.

And on Friday, Sun compared the conceptual piece “Comedian” to NFT art and decentralized blockchain technology. “Most objects and ideas exist as (intellectual property) and on the internet, not as something tangible,” he said.

For political or business purposes?

This week, Sun also became an advisor to World Liberty Financial, a cryptocurrency initiative backed by US President-elect Donald Trump, following a $30 million investment.

He previously wrote on social media platform X that he was “excited to help make crypto great again in America” under Trump’s leadership.

On Friday, Sun denied that the investment - which makes him the project's biggest investor - was an attempt to influence Mr Trump or US politics. "We are apolitical," Sun told AFP.

Last year, the 34-year-old cryptocurrency entrepreneur was charged by the U.S. Securities and Exchange Commission with fraud and securities violations related to his Tron cryptocurrency project. Sun has denied the charges and the case is still ongoing.

Sun said he only recently decided to bid on the artwork, adding that he had "silly questions" such as whether the banana was rotten and how to value the work.

Owners of the “artwork” are given a certificate of authenticity that proves the piece was created by Cattelan, as well as instructions on how to replace the fruit if it breaks. Sun said his work could also benefit from the speculative craze often associated with cryptocurrencies.

“I think (its price) will probably go even higher in the future, just like Bitcoin,” the businessman said.

Bui Huy (according to AFP, CNA)

Source: https://www.congluan.vn/doanh-nhan-an-qua-chuoi-gia-62-trieu-usd-vi-nghe-thuat-tien-ao-hay-chinh-tri-post323560.html