Crypto tycoon eats $6.2 million banana art

Crypto entrepreneur Justin Sun made good on his $6.2 million promise by eating the banana from the artwork Comedian, a piece by Italian artist Maurizio Cattelan that features a banana duct-taped to a wall.

At a press event in one of Hong Kong’s most luxurious hotels, Sun took a bite of the banana in front of a crowd of journalists and influencers, calling it “iconic” and drawing comparisons between conceptual art and cryptocurrency.

Sun described the banana as “really quite good,” adding that it was “much better than other bananas”.

Bidding on banana art and biting into legacy

The artwork was sold at a Sotheby’s auction last week, where Sun was one of seven bidders.

After winning, he admitted to feeling “disbelief” for the first 10 seconds before realising that the piece could become something “big”.

At that moment, he decided to eat the banana, explaining that doing so at a press conference could add to the artwork’s legacy.

The piece, which first appeared at Art Basel in Miami Beach in 2019, sparked debates over whether it should even be considered art.

Sun drew a parallel between conceptual art like Comedian and NFT art or decentralised blockchain technology, highlighting how these ideas exist primarily as intellectual property or online concepts rather than physical objects.

Sun dives into crypto with $30M investment

In addition to his art venture, Sun recently became an advisor to World Liberty Financial, a crypto initiative supported by US president-elect Donald Trump.

He invested $30 million in the project, making him the largest investor. Sun denied any political motive, insisting the initiative was “apolitical” and that his role would help bridge traditional finance with decentralised finance.

The 34-year-old has faced legal trouble, including fraud and securities law violations related to his crypto project Tron. He denies the charges, and the case is ongoing.

As for the banana artwork, Sun acknowledged that he had only recently decided to bid on it, admitting he had “dumb questions” about how to value the piece and what to do if the banana decayed.

He also received a certificate of authenticity confirming Cattelan’s authorship and instructions on replacing the fruit. Sun believes the artwork’s value could rise, much like the price of Bitcoin.

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