The founder of Tron and CEO of BitTorrent is preparing the first listed version of the NFT foundation.
A new fund provided by Justin Sun and the Tron Foundation will bring NFT business to a whole new level, bridging traditional and digital art. It will begin with the tokenization of the artwork of Pablo Picasso and Andy Warhol.
Tron’s Justin Sun increases NFT investment to $ 30 million
According to a press release shared by the Tron Foundation with U.To, Justin Sun won $ 20 million and $ 2 for Pablo Picasso’s “Femme nue couchée au collier” and Andy Warhol’s “Three Self-Portraits”. This big sale took place at the 20th Century Art Night event organized by Christie’s in London.
The first painting is known as an important step towards Picasso’s creativity. In 1932 he painted the French model Marie-Thérèse Walter, his longtime girlfriend.
“Three Self-Portraits” is one of the last works of Andy Warhol, who, like Rembrandt and Vincent van Gogh, decided to make a self-portrait shortly before his death.
Combined with previous acquisitions, getting Picasso and Warhol’s masterpieces increases the total value of Justin Sun’s NFT allocation to over $ 30 million.
JUST NFT: Tron’s roadmap for NFT fund released
JUST NFT, the NFTs organization of the Tron Foundation, was launched on March 28, 2021. Focused on top-notch artworks for prices starting at $ 1 million.
Describing the main concept of this project, Justin Sun says:
I believe that the field of art is also subject to the 80-20 rule, where only the artists sitting at the top of the pyramid can be valued over time. The JUST NFT Fund is committed to NFTization of the world’s best artworks and their transformation into the blockchain space.