Crypto entrepreneur eats banana artwork bought for £5m
Crypto entrepreneur eats $6.2m banana in Hong Kong
GB NEWS
A Chinese cryptocurrency entrepreneur has eaten a banana from a $6.2million (£4.9million) artwork he purchased at Sotheby's auction house in New York last week.
Justin Sun consumed the fruit, which forms part of Maurizio Cattelan's 2019 work 'Comedian', during a news conference in Hong Kong.
The artwork, which consists of a banana duct-taped to a wall, was secured by Sun after outbidding six other potential buyers.
The artwork comes with specific instructions for replacing the banana, which must be done regularly before exhibitions.This marks the third time the artwork's banana has been eaten, but the first by its rightful owner.
Justin Sun consumed the fruit during a news conference in Hong Kong
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A performance artist first consumed the banana in 2019, followed by a South Korean student in 2023. Neither had paid for the privilege.
The banana used in last week's Sotheby's auction was purchased for just 35 cents, according to The New York Times.
During the press conference, Sun embraced the performative aspect of consuming the artwork.
"Eating it at a press conference can also become a part of the artwork's history," Sun said.
He even offered a culinary review, stating: "It's much better than other bananas."
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A banana artwork composed of a fresh banana stuck to a wall with duct tape is seen before being eaten by Chinese-born crypto founder Justin Sun in Hong Kong
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The 34-year-old entrepreneur admitted to having "dumb questions" about whether the banana rotted, showing his intrigue with the conceptual piece.
He drew parallels between the artwork and cryptocurrency during the event.
Sun runs the Tron blockchain network, a platform where users can trade cryptocurrency.
Cryptocurrencies are digital currencies that operate independently of banks, offering secure decentralised transactions.
Sun compared the artwork to NFTs - "non-fungible tokens" that are pieces of digital artwork with no intrinsic value beyond what people assign to them.
Chinese-born crypto founder Justin Sun prepares to eat a banana artwork composed of a fresh banana stuck to a wall with duct tape
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These NFTs can be traded on platforms like Sun's Tron network.
Each attendee at the Hong Kong press conference received a banana and duct tape as a souvenir.
"Everyone has a banana to eat," Sun remarked during the event.
The entrepreneur recently disclosed a £30million investment in a crypto project backed by US President-elect Donald Trump.
Sun currently faces charges from the US Securities and Exchange Commission for allegedly offering and selling unregistered security tokens, which he denies. The case remains ongoing.
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