People couldn't help but wonder what deeper meaning lay behind Sun Yuchen's move this time.

Author: Huobi HTX

On the morning of November 21, Beijing time, Sun Yuchen, global advisor of Huobi HTX and founder of TRON, won the representative work (Comedian) by the famous Italian contemporary artist Maurizio Cattelan at Sotheby's 'NOW Contemporary Art Evening Auction' for a price of $6.2 million including commission, making this taped banana the most expensive fruit in history. This news quickly swept the globe, sparking enthusiastic discussions online. People couldn't help but wonder what deeper meaning lay behind Sun Yuchen's move this time.

On the evening of November 22, Sun Yuchen attended a special program of Huobi live broadcast, sharing his story with the banana with a wide audience and discussing the significance of this artwork auction for the cryptocurrency ecosystem with several well-known crypto KOLs and blockchain industry media.

The rise of the banana is a phenomenal Meme

Sun Yuchen mentioned that he was aware of the existence of the 'taped banana' artwork early on, but truly understood it through Meme coins. During his involvement in Huobi HTX's listing business, Sun Yuchen conducted extensive research on the Meme ecosystem and paid attention to the Meme about the banana (BAN, which went live on Huobi HTX in late October), which sparked his interest in (the comedian) and this auction.

With a trial-and-error mentality, Sun Yuchen participated in the bidding and successfully won the auction. But he admitted that the immense popularity that followed completely exceeded his expectations. 'I never expected that this banana would become so famous. People might know it has some popularity in the crypto circle, but I didn't expect it to be so hot outside the circle.' Sun Yuchen said, 'I saw my WeChat search index soar, even surpassing Ma Huateng at one point. This banana was on the front page of The New York Times, BBC, CNN, and was even more popular than the G20 summit.'

What surprised Sun Yuchen even more was that this auction had items estimated at nearly $20 million, but during the preview, 'almost 90% of the people were there to see this banana, while no one looked at the other $18 million collections.' He added, 'This scene reminded me of Meme coins, whose popularity once surpassed Bitcoin and became the focus of the market. I hope this artwork can provoke thoughts and create cross-border resonance between art, Meme, and the crypto community.'

From Buffett's lunch to the banana flying to space

When talking about Sun Yuchen's performance at the auction, one cannot help but mention Buffett's lunch. Recalling the scene of dining with Buffett, Sun Yuchen mentioned two suggestions he made to Buffett at that time: 'I suggested that Buffett invest a large part of his cash into two targets, one being Tesla, which was priced very low at the time, and the other being Bitcoin and other cryptocurrencies. Four years later, whether it's Musk's rise or the development of the crypto industry, the changes have been significant. Unfortunately, Buffett did not take these suggestions, which perhaps meant he missed an opportunity.'

In fact, Musk also has a connection with bananas; the Starship carried a model banana as a zero-gravity indicator during its sixth test flight, and its exterior was painted with banana designs. Regarding the next steps after purchasing the banana, Sun Yuchen said, 'I hope to tie this banana to Musk's SpaceX rocket and send it to Mars. This will create a scene full of Meme fun. Imagine a banana tied to a rocket, traversing the vast universe to reach Mars or the Moon, and then conducting a charitable auction upon returning to Earth; this kind of act is too tangible, not only reflecting the spirit of Meme but also showcasing the power of crypto culture that transcends borders and breaks conventions.'

Building a bridge for the public to the crypto ecosystem with bananas

A $6.2 million banana is certainly expensive, but it acts like a lever, attracting global attention. According to Sun Yuchen, the banana symbolizes the aesthetics of the crypto community, and its emotional power is stronger compared to traditional art collecting. 'The connection between the art circle and the crypto circle is very close. The last cycle's PEOPLE was actually related to art auctions, where everyone wanted to crowdfund to bid on a copy of the US Constitution. However, the triggers that ignite these two circles are different. Compared to the art circle, the crypto circle is better at conveying culture through humor and rebellion, which resonates more easily with the public, and this aesthetic that is close to ordinary people's emotions may be the reason it distinguishes itself from traditional art,' Sun Yuchen said.

Around this auction, the guests attending the Huobi live broadcast also shared their views and feelings. KOL DaDa stated, 'The banana artwork is a perfect example of Meme culture; its creation aims to humorously challenge the traditional definitions of value in the art world, resonating with everyone through absurd expression. Additionally, the crypto community and Meme culture have a natural fit, as cryptocurrencies inherently bear a spirit of anti-authority and decentralization. The global attention generated by this auction can form a bridge between traditional culture and crypto culture, accelerating the globalization process of Web3. Through this artwork, more outsiders not only know that Bitcoin is about to break $100,000 but can also pay attention to the cultural aspects of the crypto market.'

Jack Kong, founder of Nano Labs, believes that 'Meme coins are a native blockchain financial culture and a very sustainable long-term track. Essentially, Bitcoin was also a Meme in its early days, slowly evolving into a financial miracle for the whole world. Therefore, Meme can create miracles. The significance of Sun Yuchen's auction is not what he has given to Meme but that he has become a Meme himself.'

The spokesperson of Huobi HTX, Liu Ye, stated that Sun Yuchen's purchase of (Comedian) for $6.2 million is a milestone event in both art history and crypto history. Liu Ye said, 'This will attract more creators into the crypto world, making the entire ecosystem more comprehensive. I am very much looking forward to the new evaluations of this matter in a few years.'