Skip to main content

Tron’s Justin Sun Unveils NFT Fund Aimed at Art Acquisition

Hot on the heels of a recent winning auction bid for Beeple’s “Ocean Front” NFT, Justin Sun is making another splash in the NFT market following his decision to seed an investment fund that collects high-profile works of art.


Fund Just One Leg of Sun’s Ambitions in The NFT Ecosystem


Ongoing efforts to digitize art and collectibles have put the spotlight on the blockchain industry once more as dizzying NFT auction results draw high-profile artists and entertainers along with industry insiders competing for market share in the ever-expanding space.


In keeping with his boisterous style and ambition to reach every corner of the crypto sphere, Tron’s Justin Sun has revealed his intensified focus on the NFT space following recent auction participation and listing Lindsay Lohan’s digital collectibles on Tron’s blockchain.


Sun’s newly launched JUST NFT Fund vies to be the leading fund investing in the NFT space, with a mandate to strictly acquire works from high-profile names with a minimum price of $1 million and a $10 million median price. This is designed to ensure the fund invests in artists with longevity and appeal given the increased appearance of low-quality works attempting to capitalize on the auction mania.


In his traditionally boastful style, Sun notes,


We will become the best performing Ark Fund in the NFT industry. JUST NFT will build a bridge between blockchain and the world’s top artists, supporting the growth of native NFT artists in the world of crypto.


if (!window.GrowJs) (function () var s = document.createElement('script'); s.async = true; s.type = 'text/javascript'; s.src = 'https://bitcoinads.growadvertising.com/adserve/app'; var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n); ()); var GrowJs = GrowJs || ; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push( node: document.currentScript.parentElement, handler: function (node) var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); );

Justin Sun’s Ambitions to NFTize Other Auctioned Works of Art


This latest move is yet another piece of his multi-pronged strategy to attract the art community to blockchain and, more specifically, Tron. The JUST NFT Fund will also work hand-in-hand with artists by inviting high-profile creators to consult. Besides these consultants, the fund will be hiring art experts from Sotheby’s and Christie’s that already command experience in the NFT space.


Beyond the art fund, Sun’s ambitions stretch into being the blockchain of choice for all the related activities. He plans to NFTize other auctioned works of art on the Tron blockchain using the TRC-721 standard, helping host and track ownership of the pieces minted on the blockchain. For Sun, this represents just another bridge he is building with the art community as he works to become the ecosystem of choice for incubating, auctioning, and collecting NFTs.


Do you think Justin Sun is really interested in art or this is just another marketing trick to keep Tron in the news cycle? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. Nigerian Crypto Traders Get Creative Still, the increasing trades on informal platforms have also led to increased reports of users losing money to con artists. Moreover, with the CBN seemingly eager to see volumes of crypto trades plummet, Nigerian users had to find ingenious but legal ways of getting around the central bank’s imposed restrictions. As shown in one local report , one such legal way is through an app created by one local crypto start-up, Patricia. According to the report, this application is already enabling Nigerian users to buy or sell their crypto assets securely and without running afoul of CBN regulations. Therefore, in this repor...
Post a Comment
Read more

A Jacobin Podcast Review: Critiques on Crypto and Sterlin’s Response

https://motleybloggers.com/wp-content/uploads/2022/01/a-jacobin-podcast-review-critiques-on-crypto-and-sterlins-response.jpg The following opinion editorial is a Jacobin Podcast review written by the author Sterlin Lujan , the chief risk officer with Cryptospace. The Jacobin Podcast episode called: “ Dig: Cryptocurrency w/ Edward Ongweso Jr & Jacob Silverman, ” touches upon “cryptocurrency, NFTs, Elon Musk, the metaverse, meme stocks, and techno-utopianism amid the crushing reality of our neoliberal hellscape.” Cryptocurrency isn’t fringe technology anymore. Over the last decade, it has become embedded into finance, culture, and even our social life. It’s drastically changing the way we think about money, economics, and human action. However, some people, primarily on the left, are skeptical of cryptocurrency. Many of them hate it, regardless of how much of a godsend it has been for many. My friend, thought leader, author, and psychedelic visionar...
Post a Comment
Read more

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam

https://motleybloggers.com/wp-content/uploads/2022/05/bitcoin-ethereum-technical-analysis-eth-back-under-2000-as-balenciaga-gains-lose-steam.jpg Following strong gains to start the week, BTC once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. ETH also dropped, falling under $2,000 today. Bitcoin Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week. Following a high of $30,547.50 during Monday’s session, BTC /USD fell to an intraday low of $28,975.56 earlier today. Today’s drop saw BTC fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded. BTC /USD – Daily Chart Since then, bears have now pushed prices closer to support at $28,800, which is an area where BTC has resided over the past few weeks. Looking at the chart, the 14-da...
Post a Comment
Read more