Tron founder Justin Sun just spent $6.2 million to purchase the artwork “Comedian” – a banana taped to a wall – at an auction in New York, and declared he would eat this banana.
On November 21, the cryptocurrency community and the art world were abuzz with news that Justin Sun, founder of Tron, spent $6.2 million to own the artwork “Comedian” by artist Maurizio Cattelan at an auction in New York.
This controversial artwork is simply a fresh banana taped to a wall. The final price, including $5.2 million for the artwork and $1 million in fees for auction house Sotheby’s, was four times the initial estimate of $1 to $1.5 million.
Sotheby’s, the auction house organizing the event, stated on social media X that there were over 6 minutes of intense bidding for the piece. The starting price was $800,000 but quickly climbed to millions of dollars in a lively atmosphere. The host joked about the banana “slipping around the auction room” and urged buyers “not to let it slip from their hands,” causing laughter in the audience. In the end, Sun outbid 6 other competitors to win.
I’m thrilled to announce that I’ve bought the banana !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C
— H.E. Justin Sun (@justinsuntron) November 21, 2024
Notably, Sun claimed he would eat this banana as part of a “unique artistic experience.” On social media X, he stated: “This is not just an artwork; it represents a cultural phenomenon connecting the art world, memes, and the cryptocurrency community.”
The meaning behind the million-dollar banana
Purchasing the artwork “Comedian” is not just about owning a banana taped to a wall. The buyer is actually paying for the instructions on how to tape the banana and a certificate of authenticity, allowing them to call their piece “Comedian.” The owner can replace the banana when it spoils and replace the tape as needed.
Sun's actions come amid multiple legal challenges he is facing. His Tron blockchain is currently processing the majority of the trading volume of the stablecoin Tether, which is under criminal investigation by the U.S. Department of Justice. Sun himself is also reportedly being investigated by the FBI and prosecutors in New York.
Back in March 2023, the U.S. Securities and Exchange Commission (SEC) sued Sun and Tron, accusing them of selling Tron tokens as unregistered securities and manipulating the market. However, Sun denied the allegations.
If Sun actually eats the banana as he claimed, he would be the third person recorded to do so. Previously, in 2019, artist David Datuna ate the banana from the artwork “Comedian” at Art Basel Miami after it was sold for $120,000. In April 2022, a student also ate the banana when the piece was displayed at an art museum in Seoul due to hunger. Neither case faced any legal consequences.