Following Wednesday’s $6.2 million sale of a single banana, grocery inflation just reached its highest point.
The produce, which was duct-taped to a wall, cost cryptocurrency entrepreneur Justin Sun more than $6 million.
The banana is a component of the artwork “Comedian,” which was made by Maurizio Cattelan, an Italian humorist and artist.
Naturally, Sun, the creator of cryptocurrency TRON, paid for the results of his efforts in the cryptocurrency world after competing against six other people for the artwork at a Sotheby’s auction in New York City on Wednesday.
In a statement on X, Sun stated, “I think this piece will inspire more thought and discussion in the future and will become a part of history.” “I am honored to be the proud owner of this iconic work and look forward to it sparking further inspiration and impact for art enthusiasts around the world.”
Additionally, the multimillionaire intends to consume his investment.
“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture,” he stated.
But Sun’s munching won’t affect the return on his investment. In exchange for his $6.2 million purchase, he received a roll of duct tape, instructions on how to correctly “install” the banana, and—above all—a certificate of authenticity ensuring that Sun’s reproduction of the artwork would be real Cattelan’s original work, according to CNBC.
His wins did not include the soon-to-be-eaten banana because bananas spoil easily. However, the certificate that comes with the purchase is what gives the artwork its worth rather than the fruit itself.
What you purchase when you purchase David Galperin, head of contemporary art at Sotheby’s, told the Associated Press that Cattelan’s Comedian is not the banana itself but rather an authenticity certificate that gives the owner the right and permission to display the banana and duct tape on their wall as an original piece of art by Maurizio Cattelan.
The artwork’s resemblance to an NFT probably wasn’t missed by Sun, a crypto enthusiast.
“This is not just an artwork; it represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community,” he stated.
“Comedian” cost $120,000 when it made its premiere at Art Basel Miami in 2019. After going popular on social media, the picture of a banana taped to a wall drew so many people that the artwork had to be removed.
Three editions of “Comedian” were produced and auctioned; two were bought, and one was donated anonymously to the Guggenheim Collection.
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