Tuesday, April 13, 2021

Justin Sun buys a Picasso painting for $20 million to tokenize on JUST NFT fund.

The Takeaway:

Justin Sun has bought a painting by Picasso and another one by Andy Warhol for $22 million. Now, he intends to tokenize them through the JUST NFT Fund.

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Justin Sun, the founder of one of the largest blockchain-based projects, TRON, and the CEO of BitTorrent, has bought Picasso’s “Femme nue couchée au collier” for $20 million. The Tron founder also bought “Three self-portraits” by Andy Warhol for $2 million, and he plans to tokenize both and launch them on the JUST NFT Fund in the weeks to come.

 

Sun won the auctions at the 20th Century Art evening at Christie’s in London. 

Justin Sun is well-known within the cryptocurrency community and is undoubtedly one of its most influential proponents. The young crypto tycoon has recently bought two paintings worth $22 million in total. According the press releaseSun bought “Femme nue couchée au collier” by Picasso and “Three self-portraits” by Andy Warhol for $20 million and $2 million, respectively. Justin Sun won the auctions at the 20th Century Art evening at Christie’s in London. Christie’s managed to auction off Beeple’s ‘Everydays: The first 5,000 days” by Beeple for a whopping $69 million, shattering all records of digital art to date.

 

L’Atelier BNP Paribas CEO says ETH a better option than NFT. 

As reported earlier, L’Atelier BNP Paribas CEO John Egan said, “Ethereum is clearly the big winner when it comes to NFTs. So starting with Ethereum and adjacent infrastructure to Ethereum is probably a significantly safer investment at this point.” Ethereum provides an infrastructure to NFTs, according to Egan. Buying NFTs, on the other hand, at this stage is akin to gambling in a casino, said Egan.

Justin Sun announced the JUST NFT Fund’s launch to bridge the gap between digital ledger technology and artists who want to release their own non-fungible tokens.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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