Crypto entrepreneur eats $6.2 million banana artwork he bought at auction

Justin Sun, founder of Tron, eats $6.2 million banana artwork, drawing comparisons to NFTs and crypto volatility

Justin Sun, the Chinese-born cryptocurrency entrepreneur and founder of the Tron blockchain, has stunned the world by fulfilling his promise to eat a banana from Maurizio Cattelan's Comedian, the infamous $6.2 million artwork he bought at auction. The artwork, consisting of a banana duct-taped to a wall, has made headlines worldwide since it was first installed in 2019, reported BBC. 

许多朋友问我这根香蕉的味道如何。老实说，对于一根有如此故事的香蕉，味道自然和普通香蕉不一样。我品尝出了一种100年前大麦克香蕉的味道。???? pic.twitter.com/ddo8pEjatx

— H.E. Justin Sun ???? (@justinsuntron) November 29, 2024

  As he took a bite of the banana during a news conference in Hong Kong, Sun quipped, “It’s much better than other bananas,” poking fun at the absurdity of paying millions for a piece of art that’s ultimately a piece of fruit.

 

 

Sun, who outbid six other bidders to acquire the installation, explained that his act of eating the banana was more than just a stunt. "Eating it at a press conference can also become a part of the artwork's history," he said, adding that the banana now holds more meaning after being consumed.

 

The banana, while often replaced with fresh fruit during exhibitions, was sold as part of the Comedian installation, with Sun also acquiring a guide on how to replace it. On the day of the auction, the banana itself was purchased for just 35 cents before becoming part of a multimillion-dollar art piece. This particular fruit, which is expected to be replaced by another soon, could now go down in history as one of the most expensive bananas ever consumed.

 

While this isn't the first time the banana has been eaten—performance artist David Datuna famously ate it during an exhibition in 2019, and in 2023, a South Korean student did the same—Sun’s $6.2 million bid far eclipses any previous instances of consumption. In fact, it’s one of the most extravagant acts in art history.

 

For Sun, the banana is not just fruit; it’s a metaphor for the speculative nature of contemporary finance, particularly cryptocurrency. “NFTs are a lot like this banana,” Sun said, drawing a parallel between the value of the artwork and the value of non-fungible tokens (NFTs), digital assets that hold value only through the perception and demand of buyers.

 

As the founder of the Tron blockchain, Sun is no stranger to the world of digital assets and decentralised finance. "Like abstract art, NFTs exist based on what people are willing to pay for them. It's all about perception," he said.

 

In a moment of self-reflection, Sun also admitted his curiosity about the banana’s shelf life, joking that he had “dumb questions” about whether the fruit would rot, and even offered a playful comment: "Everyone has a banana to eat."

 

For Sun, his acquisition of Comedian is about more than just owning a controversial piece of art—it’s a statement on the future of digital ownership, cryptocurrency, and speculative markets. Sun, a vocal advocate for cryptocurrency, has faced legal challenges in the US, including charges from the SEC over unregistered security token offerings. However, his commitment to the digital finance world remains unwavering.

 

In addition to his recent art acquisition, Sun has also disclosed a $30 million investment in a cryptocurrency project linked to US President-elect Donald Trump.