Justin Sun Buys Rs 53 Crore Banana Art—Plans to Eat It and Finish the ‘Peel’ of the Artwork!

Viral: Cryptocurrency entrepreneur Justin Sun has purchased a unique artwork featuring a banana taped to a wall for $6.24 million (₹53 crore) at a Sotheby’s auction in New York. Sun, known for his extravagant art acquisitions, revealed that he might eat the banana to "complete the decentralised cycle of this artwork."

The artwork, titled Comedian, was created by Italian artist Maurizio Cattelan. First sold by Perrotin gallery in 2019, the piece has since been owned by an anonymous collector. It was auctioned after a world tour conducted by Sotheby’s, which included a stop in Hong Kong, where Sun resides.

Why Buy a Taped Banana?

Sun explained his fascination with conceptual art, drawing parallels between its process-driven value and the ethos of cryptocurrencies. “It took me some time to process the whole concept of conceptual art in the first place. Its true value lies in process rather than permanence," he told Barron’s. He further likened conceptual art to meme culture, saying, “It’s not like the meme is something you can buy—the whole process constitutes the meme itself.”

The bidding for Comedian began at $800,000 and quickly escalated beyond $1.5 million within minutes. Sun eventually secured the artwork, stating, "$5 million is the right amount and the budget I gave to this artist."

Future Plans for the Banana

Sun has shared several ideas for the artwork. One involves taping the banana to a spaceship and sending it to the moon—a nod to both the art's conceptual nature and the ambitions of the cryptocurrency community. Another plan is to exhibit the artwork.

Ultimately, Sun hinted at consuming the banana, remarking that it would symbolize the culmination of the artwork's "decentralised cycle."

This purchase adds to Sun's impressive art collection, which includes a $20 million Pablo Picasso painting and a $78.4 million Alberto Giacommetti sculpture. The banana artwork, however, stands out for its audacious concept and cultural resonance.