On Wednesday night at a Sotheby’s auction, Justin Sun, a high-profile figure in the cryptocurrency scene, forked over a cool $6.2 million for what is essentially a piece of conceptual art, minus the actual fruit. Known for founding the Tron blockchain and for various stunts in the blockchain world, Sun made headlines for purchasing “Comedian,” a work by Italian artist Maurizio Cattelan that gained meme status in 2019. Made famous for its simplicity—a banana duct-taped to a wall—”Comedian” has stirred conversation once more with a price tag that could fund a small island nation. CNBC said the San Francisco mogul bid against six other hopefuls before securing the win.
The staggering figure for which the artwork sold reflects a booming art market and the merging paths of viral culture and cryptocurrency. Yet Sun isn’t so much buying an aged banana but rather the concept and a set of instructions—it’s an idea ripe for the picking in an era where digital ownership often takes precedence over physical assets. As CNBC outlines, among his spoils are a roll of duct tape and a certificate of authenticity, both of which grant Sun the right to indefinitely recreate this perishable artwork.
“I believe this piece will inspire more thought and discussion in the future and will become a part of history,” Sun told the San Francisco Chronicle after the purchase. “I am honored to be the proud owner of the banana and look forward to it sparking further inspiration and impact for art enthusiasts around the world.” There’s even a twist to Sun’s grand plan—he’s mused over sending this pricey piece of fruit into space if Elon Musk can be persuaded to aid in the endeavor.
Comparisons to NFTs are apt, with Sun drawing parallels to the digital realm, claiming the banana represents “a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community,” as per his statement to CNBC. This isn’t the first time someone paid top dollar for something intangible. The art and crypto communities have seen a surge in people paying big money for non-fungible tokens, or NFTs, which are unique digital ownership certificates.
David Galperin, Sotheby’s head of contemporary art, encapsulated the concept like this: “What you buy when you buy Cattelan’s ‘Comedian’ is not the banana itself, but a certificate of authenticity that grants the owner the permission and authority to reproduce this banana and duct tape on their wall as an original artwork by Maurizio Cattelan,” he stated directly via the San Francisco Chronicle.
