Shortly after winning Beeple’s Ocean Front NFT auction, Justin Sun made headlines when he decided to create an investment fund that collects top-notch art.
FoundationA foot in the door of Sunshine Ambition in the NFTEcosystem
Ongoing efforts to digitize art and collectibles have brought new attention to the blockchain industry, as staggering results from NFT auctions attract high-profile artists alongside industry insiders vying for market share in an ever-expanding space.
True to his flashy style and desire to reach every corner of the cryptosphere, Trona’s Justin Sun has shown an increasing focus on the NFT space after recently attending an auction and auctioning off Lindsay Lohan’s digital collections.
The recently launched Sun fund, JUST NFT, claims to be the first fund to invest in the NFT space, with a mandate to only acquire works by big names with a minimum price of $1 million and an average price of $10 million. The aim of this is to ensure that the fund invests in artists who have longevity and are attractive, given the increasing number of poor quality works that seek to take advantage of the auction mania.
In his traditional boastful style, Sun notes,
We will be the most powerful Ark Foundation in the NMT industry. JUST NFT will bridge the gap between blockchain and the world’s biggest artists and support the growth of local NFT artists in the crypto world.
Justin Sun’s NFTize ambitions to auction off other artwork
This new initiative is part of the layered strategy to engage the artistic community with Lockdown and Tron in particular. The JUST NFT Foundation will also work hand in hand with the artists, inviting renowned art professionals to consult them. In addition to these advisors, the Foundation will rely on art experts from Sotheby’s and Christie’s who already have experience in the NFT field.
In addition to the Arts Foundation, Sun’s ambitions extend to blockchain, which is used for all related activities. There are plans to auction off other artwork on the Tron keychain at TRC-721, which will help and prove to the owner that he owns the artwork on the keychain. For Sun, this is another bridge it is building with the art community to become the ecosystem of choice for hatching, auctioning and collecting NFT.
Do you think Justin Sun is really interested in art or is this just a marketing stunt to keep Tron in the news? Let us know your comments in the section below.
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