The NFT collector Justin Sun is NOT the Great Gatsby in crypto world

Justin Sun, founder of TRON has won the bidding on Twelve Chinese Zodiac Heads. This rare collection was offered at the Twelve Digital Zodiac Heads Auction hosted by Metapoly XM. It was sold for a hammer value of Y=9832,500 (around 1,545,000 US Dollars), which is comparable to major art-work deals in recent years.

Justin Sun’s Poly Auction purchase of works is not the same as his previous art consumption. Each Chinese person understands the significance of Sun’s purchase (12 Chinese Zodiac Heads), which is also a good deed to a renaissance in traditional Chinese culture.

Justin Sun was appointed ambassador to the WTO Grenada in December 2017. He is committed to promoting the integration cryptocurrency with sovereign states. This collection was also purchased to promote traditional Chinese culture.

The METAVERSE, NFT and other crypto-related products are the most popular in today’s market. Companies large and small, including Meta, Disney, Nvidia and BATJ, have been profoundly shocked by the tsunami of new technology. These industrial giants are placing bets. Future investors will be faced with a problem due to a lack of applications scenarios.

How can you benchmark NFT values properly, for example? If you take part in a traditional auction, the range for each piece of work that is considered a benchmark is fairly clear. The NFT auction is a bit more complicated. There are very few pricing guidelines that can be used to guide you.

Despite these flaws, the NFT market for blockchain-based art continues to be popular. Justin’s NFT collection is part of the incredible momentum in an industrial tsunami. According to the latest calculations by market observers, the NFT market value total has reached $17 billion.

Justin Sun is now a top-class collector of art. He had won many other NFT works, including The Nose (Le Nez), a famous work by Alberto Giacometti. Also, Femme nue couche au collier (Marie-Therese), by Pablo Picasso, at $20 million, and Three Self-Portraits (Andy Warhol) at $2 million at Christie’s 20th Century Art Evening Sale. He also won the $6 million bidding for OCEAN FROST by crypto artist Beeple.

The question is, however, is he actually sane, or just a Great Gatsby who squanders money all over the globe?

This young crypto tycoon might have higher goals than observers realize. He may be thinking about setting up a digital stage to allow future art performances. His ongoing collection of NFT masterpieces could be another impressive feat in his career dedicated to blockchain-based businesses. Justin Sun has amassed many high-quality artworks and donated some to APENFT Foundation for digitization in arts.

APENFT is supported by the underlying technology TRON, which is a top-notch blockchain. Bittorrent File Systems (BTFS) is the largest worldwide distributed storage system. It’s dedicated to promoting the creator economy as well as fostering the integration between finance, culture, and art in Metaverse. APENFT Marketplace is expected to list one of these animal heads as an auction item. This will allow for the introduction of rare and special-breed horses into WINNFT HORSE, a horse racing competition co-launched with TRON, the APENFT Foundation and WINKLink.

Justin Sun, an industry leader and a visionary, has also publicly declared his prediction that half of the top 100 artists and artworks worldwide will be recorded as NFTs over the next decade. Blockchain-based ecosystems have been creating a bridge between traditional art, cutting-edge technology and art. This presents a very fruitful future for both blockchain and the art industry.

Is he going to succeed? Have a look at his track records first. You might be surprised.

Source Link: https://thedailybrit.co.uk/the-nft-collector-justin-sun-is-not-the-great-gatsby-in-crypto-world/

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https://cryptodaily.co.uk/2022/04/the-nft-collector-justin-sun-is-not-the-great-gatsby-in-crypto-world