Crypto boss eats banana artwork he bought for $6.2m - and offers to buy 100,000 more from fruit vendor

29 November 2024, 21:47 | Updated: 29 November 2024, 21:51

A cryptocurrency boss who bought a piece of art consisting of a simple banana, duct-taped to a wall, for $6.2 million (£4.9 million) has eaten the fruit.

Chinese-born Justin Sun, who is the founder of cryptocurrency platform Tron, made the winning bid for the artwork at an auction in New York last week.

Or, more accurately, he purchased a certificate of authenticity that gives him the authority to duct-tape a banana to a wall and call it Comedian.

Appearing at a press conference in The Peninsula Hong Kong, Mr Sun peeled off the tape and enjoyed the banana.

"It tastes much better than other bananas. Indeed, quite good," he said.

The artwork, by Italian artist Maurizio Cattelan, was a phenomenon when it debuted in 2019 at Art Basel Miami Beach.

The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,000 and $150,000, according to the gallery handling sales at the time.

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Mr Sun said in a statement that the piece "represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community".

"I will personally eat the banana as part of this unique artistic experience, honouring its place in both art history and popular culture," he said.

The fruit was sold to the artist for 35 cents from a cart outside Sotheby's auction house.

Mr Sun promised the seller that he would purchase tens of thousands more and, distribute them "free worldwide through his stand [...] while supplies last".

It comes after the crypto boss on Tuesday announced that he had invested $30million in World Liberty Financial, which was launched by US President-elect Donald Trump in September as his family's cryptocurrency venture.

Mr Sun said in a post that his platform is "committed to making America great again and leading innovation".

Following the investment, he became an adviser of World Liberty Financial.