Sun Announces Fine Art NFTs

You could own a piece of art history! Justin Sun has announced he will be turning art from his personal collection into Non-fungible Tokens (NFT) available for purchase.

From classic names like Pablo Picasso and Andy Warhol to more contemporary internet innovators like Beeple and Murat Pak, Sun has grabbed headlines for his acquisitions of influential art pieces over the years. Now, according to a tweet from January 11, Sun will turn an undisclosed number of pieces from his personal collection into NFTs.

Sun, well-known for his tech entrepreneur roles like the founding of Tron Network and advising for Huobi, is a billionaire with exquisite artistic taste. He reportedly spent over $100 million on art in 2021 alone.

“The traditional art world is supremely opaque and buying art is perceived to be only for the privileged,” Sun told Amah-Rose Abrams of ArtNet in 2021. “Just like how blockchain democratizes finance like never before, we want to democratize the art market by registering blue-chip art as NFTs on the blockchain and facilitating a creator economy.”

He’s already known for spending lavishly on expensive pieces, including $20 million on a Picasso piece, $2 million on a Warhol, and a $1.2 million bid for NFTs of the 12 Chinese Zodiac Heads. He is not afraid to bid big too. He won a $78 million bid for a piece called “Le Nez,” and notably failed on a $69 million bid for a collection of Picasso pieces in early 2021.

NFTs have held a transformative role across the art world in recent years, and Sun believes that they are not just a flash in the pan. He reportedly aims to create a fund of artworks registered as NFTs, using his personal collection to get it started.

He told Sotheby’s in a sitdown interview in 2022 that NFTs are the art of his generation.

“I believe NFTs are the art of our generation. So basically, don’t think about whether I’m going to win or lose the game. Let’s become a part of history. Let’s participate in history,” Sun told Sotheby’s.

More details are to come about how to participate in a piece of the history Sun is building. No mention yet of the chain the NFTs will launch on, but it will likely be Sun’s own Tron Network.

What is TRON Network:

Tron is an open-source blockchain-based decentralized digital platform with its own cryptocurrency, called Tronix or TRX. Established in 2014 by Justin Sun and founded in 2017 by a Singapore non-profit organization, Tron Foundation aims to host a global entertainment system for the cost-effective sharing of digital content.

Where to find TRON Network:

Website | Twitter | Telegram | Discord | Medium |