cryptonews.com
Shortly afterward, the entrepreneur announced his fund bought Pablo Picasso’s 'Femme nue couchée au collier (Marie-Thérèse)' for some USD 20m, and Andy Warhol’s 'Three Self Portraits' for USD 2m at the auction house’s March 23 sale.
Sun said the “auction represents a very significant milestone for #JUST #NFT in its entry into the top fine #art industry. I believe more world-class artworks by top-notch artists will be added to the JUST NFT’s catalog in the future.”
As reported, in a recently released open letter, Sun declared the “fund was born to build a bridge between top-notch artists and blockchain, and to support the growth of native crypto NFT artists.”
“JUST NFT only focuses on top-notch artists and artworks. In principle, the fund only accepts art pieces with a price tag of no less than USD 1m and a median value of USD 10m. We believe the art space is also subject to the 80–20 rule, or the Pareto Principle, where only the value of the artists sitting at the tippy-top of the pyramid can stand the test of time,” he said.
Meanwhile, the entrepreneur’s latest art-related moves have generated some positive reactions from the TRX community. Among others, a Twitter user who goes by the name Letti said that “hopefully this means you can use $TRX to buy/bid for NFTs and we can see some noticeable gains.”
At the time of writing (08:55 UTC), TRX, ranked 19th by market capitalization, trades at USD 0.089 and is unchanged in a day. The price is up by 60.5% in a week and 89% in a month.
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