In a high-profile Sotheby’s auction on Wednesday night in New York, Justin Sun, founder of the Tron blockchain, purchased Maurizio Cattelan’s infamous artwork Comedian — a fresh banana duct-taped to a wall — for a remarkable $6.24 million.
Sotheby’s originally estimated the piece to fetch between $1 million and $1.5 million. However, after six minutes of intense bidding, Sun secured the artwork at $5.2 million, with an additional $1 million in auction fees.
I’m thrilled to announce that I’ve bought the banana🍌 !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C
— H.E. Justin Sun 🍌 (@justinsuntron) November 21, 2024
First unveiled in 2019 at Art Basel Miami Beach, Comedian is a conceptual artwork that includes a certificate of authenticity and instructions for replacing the banana and duct tape as needed. While some critics deride it as absurd, others view it as a commentary on consumerism, art, and the value of conceptual ideas.
Sun expressed his enthusiasm on X, calling the artwork “a cultural phenomenon that bridges the worlds of art, memes, and cryptocurrency.” He also revealed plans to eat the banana in the coming days as part of a unique performance, following similar acts by performance artists in 2019 and 2023.
Sun hinted at using Tron (TRX), his blockchain’s native cryptocurrency, to pay for the artwork. Speaking to Bloomberg, he compared the conceptual nature of the piece to the principles of decentralization in blockchain technology. “This is a conceptual artwork—it’s impossible for you to destroy the artwork itself,” he noted.
Impact on Cryptocurrency and Memecoins
The purchase sent ripples through the art and crypto communities. Following the sale, the Solana-based memecoin Comedian (ticker: BAN), inspired by the artwork, experienced a 37% drop in market cap, though it later recovered partially.
Sun’s acquisition has also reignited debates about the intersection of art, culture, and cryptocurrency. While some view it as a stunt, others argue it highlights the evolving role of conceptual art in the digital age.
As Sun prepares to consume the banana, the act itself may become a symbolic moment in modern art and crypto history, blending performance art with blockchain narratives.
