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.

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.



from Bitcoin News https://ift.tt/3czW9Xa
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more