Crypto investor Justin Sun has made headlines by acquiring a duct taped banana fixed to a wall for $6.2 million, underscoring the rising value of both cryptocurrency and viral art.
Artwork, titled Comedian
Sotheby’s auctioned the well-known artwork, titled Comedian, created by Italian artist and provocateur Maurizio Cattelan. The sale, held online, saw fierce competition among seven bidders, with Sun ultimately securing the piece using cryptocurrency.
In a statement, Sun expressed that the artwork transcends its physical form, describing it as a cultural milestone that connects art, internet memes, and the cryptocurrency community. He emphasized its potential to spark discussions and inspire future generations while celebrating its historic significance.
Global attention for Duct Taped Banana artwork
The artwork first gained global attention during its debut at Art Basel Miami Beach in 2019, where it was priced at $120,000. The image of the banana affixed to a wall with duct tape quickly went viral, drawing overwhelming crowds before it was eventually removed. Three editions of Comedian were produced and sold. One is now part of the Guggenheim Collection, donated anonymously, while the others went to private collectors.
The banana auctioned at Sotheby’s was resold by one of the original buyers. Sun’s $6.2 million purchase includes a roll of duct tape, instructions for displaying the piece, and a certificate of authenticity that verifies it as an original work by Cattelan. The actual banana, however, must be periodically replaced due to its perishable nature.
Duct Taped Banana artwork sale
Sun indicated plans to eat the banana as part of the artistic experience, honoring its dual status in art history and popular culture. Many in the cryptocurrency community likened the artwork’s value—rooted in its certificate rather than its physical form—to that of an NFT. Recognizing this connection, the seller accepted cryptocurrency as payment.
The sale was part of a broader series of art auctions held in New York, where over $1 billion worth of art was up for grabs. This resurgence follows two years of declines in the art market and reflects renewed confidence among wealthy collectors, buoyed by a stock market recovery and postelection optimism.
Notable sales during the week included a Monet water lilies painting that fetched $65.5 million at Sotheby’s and a Rene Magritte painting sold for $121 million at Christie’s, marking a strong rebound in the high-end art market.
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