Justin Sun Purchased A Picasso Painting For $20M To Tokenize In NFT Fund

Justin Sun purchased a Picasso painting for $20 million as well as an Andy Warhol painting as well with the goal to tokenize them through the JUST NFT Fund so let’s read more in our latest TRON news today.

Justin Sun purchased Picasso’s “Femme nue couchee au collier” for $20 million but besides that, he purchased “Three self-portraits” by Andy Warhol for $2 million with plans to tokenize both and launch them on the JUST NFT Fund in the next few weeks. Sun is a well-known figure in the crypto space and undoubtedly one of the most influential proponents. The millionaire recently purchased two paintings totaling $22 million and it goes beyond saying that both Warhol and Picasso are among the greatest and most popular traditional artists that had a huge impact on the entire world and art across the world.

1/12 I participated in the @ChristiesInc #NFT auction for Everydays: the First 5,000 Days by @Beeple. My final effective bid was $60 MIL (plus fee $69 MIL). However, was outbid by another buyer in the last 20 secs by $250k. Difference was less than 0.3% of the total price.

— Justin Sun🌞 (@justinsuntron) March 12, 2021

Sun won the auctions at the 20^th Century Art Evening at Christie’s in London because previously Christie’s managed to auction off Beeple’s “Everyday: The First 5000 Days” for stunning $69 million which broke all records of digital art to date. The CEO of Tron also revealed the launch of the JUST NFT Fund which is a new solution that aims to bridge the gap between digital ledger technology and artists that want to release their own NFT. The fund focuses on top-notch artists that only accept art pieces with a price tag of $1 million and a median value of $10 million. Sun commented:

“I believe the art space is also subject to the 80-20 rule, where only the value of the artists sitting at the tippy-top of the pyramid can stand the test of time.”

With this in mind, both paintings which were acquired will be amongst the first works of traditional art that are tokenized and launched on the JUST NFT fund in the next few weeks to come. The first collection list of the fund will be sized at $30 million while Beeple’s OCEAN Front is also included. What’s even more impressive, Picasso’s “Femme nue couchee au collier” is possibly the highest-priced collection of the 20^th century during evening auctions as per Christie’s official website.

As previously reported, Dorsey auctioned his first tweet on NFT auction house Valuables and nine hours later, Sun replied that he bid half a million dollars or it. Sun seemingly wants to have the tweet and the listing now says that the highest offer is the one Sun made.