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- TRON’s founder Justin Sun has made ripples in the NFT space by announcing a new investment fund in digital art collectibles.
- This move comes hot on the heels of his high stakes victory in the auction for “Ocean Front” NFT by Beeple.
Ladies and gentlemen, the NFT revolution is no longer around the corner. It is right here. The hype surrounding non-fungible tokens may be attributed to their versatility and ease. It can be used to authentically represent any tangible or intangible item you can think of. Just as Elon Musk heralded Bitcoin’s rise to fame, Justin Sun‘s actions may be a precursor to significant investments in the NFT arena.
Bridging the gap with NFTs
It is no secret that Sun wants to occupy a piece of the entire crypto sphere. His recent moves may signal his strong intent to penetrate the NFT sub-dimension as well. In a high octane bidding war which he recently won, Sun is now the proud owner of the “Ocean Front” NFT, an artwork of architecturally stimulating buildings by Beeple. Moreover, he has also begun focusing on NFT auctions with a renewed vigor and has listed Lindsay Lohan’s digital collectibles on TRON’s native blockchain.
In line with his vision to bridge the gap between the world’s most celebrated artists and the currently booming blockchain technology, Sun has launched an investment fund called “JUST NFT Fund.” Its goal is to help acquire high-profile artwork NFTs costing less than $1 million, with its median price somewhere around $10 million. This, he notes, ensures that quality artworks are given their due in the current era of cheap works hogging the NFT space.
Multi-pronged strategy
The JUST NFT Fund will collaborate with artists and experts to aid consultation. Experts such as Sotheby’s and Christie’s, who are big names in the NFT realm, are already in talks with different Fund stakeholders. All of Sun’s moves may be part of a more comprehensive strategy to make TRON the most preferred blockchain or any activity in the crypto sphere. Using the TRC-721 standard, Sun also has plans to tokenize his other auctioned artworks, thus tracking and verifying ownership.
TRON founder’s recent moves are welcome ones while also making his firm news-worthy for a few more weeks.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
