On November 20th local time, Tron founder Justin Sun acquired the iconic artwork Comedian banana by artist Maurizio Cattelan for $6.2 million.
The artwork is indeed a real banana, and many people may not understand why Sun Yuchen spent a huge sum to purchase a banana.
According to Sun Yuchen's own explanation, it is roughly "not only a piece of art, but also a cultural phenomenon that connects art, meme culture, and the cryptocurrency community."
The Comedian Banana has indeed become a part of crypto culture, generating a meme $Ban (Comedian) in the crypto circle, with Comedian Banana artworks as the underlying assets.
After the news of Sun Yuchen buying Comedian broke, $Ban rose about 20% in five minutes, with its market value briefly surpassing 230 million dollars. However, as of the time of writing, the token's price has dropped 30% compared to the previous day.
A marketing campaign of 6.2 million dollars
Sun Yuchen purchased the artwork Comedian Banana, which is created by the Italian artist Maurizio Cattelan. This is a piece consisting of a fresh banana that is taped to the wall with duct tape.
Originally, Maurizio Cattelan created this for an art fair in 2019, during which Maurizio Cattelan bought these bananas at a grocery store in Miami for about thirty cents. The work comes with a certificate of authenticity and detailed proper display instructions for the owner to use when exhibiting the piece. The bananas and tape can be replaced as needed.
The gallery owner of the exhibited work once commented on this piece: "A symbol of global trade, a play on words, and also a classic form of humor."
The main characteristic of Maurizio Cattelan's artworks is humor. Some previous representative works include the 2016 creation "America" - a fully functional gold toilet.
The comedian has also stirred controversy, with The Guardian calling it "a work of genius beyond comprehension... It reminds one of a classic joke from Lucille Ball's 'The Developmentally Disabled' about wealthy people not knowing the price of bananas." Artnet wrote that this piece is one of the worst of the week, stating that Cattelan "somehow tricked a group of collectors into buying bananas taped to the wall for $120,000 each." USA Today quipped, "This artwork is a banana—literally."
There are many voices of praise. Noah Charney stated in his 2021 book "The Devil in the Gallery" that "Comedian is neither beautiful nor showcases skill, hence it represents the line of Duchampism." The author Brian C. Nixon mentioned in his work "Beauty (and the Banana)": "At the very least, Comedian is a commentary on the wild world of contemporary art, conveying how culture understands, interprets, and interacts with art."
Art is difficult to understand, but in the folk community, everyone has started to use this banana as a meme, even Musk was memeing this work on X a few years ago.
After the birth of Comedian Banana, there was no shortage of buyers interested in it. A total of three versions of the work were issued. Two of them were sold at the Basel Art Fair for a price of $120,000.
This time, the auction house Sotheby's auctioned off the remaining piece of the Comedian banana, which was originally expected to sell for between $1 million and $1.5 million. However, the final price reached as high as $6.2 million.
Sun is not short of money. According to the New York Times, he outbid six other competitors to acquire this piece. In an interview with the New York Times, he stated, "In the coming days, I will personally eat this banana as part of this unique artistic experience, to commemorate its place in art history and popular culture."
What Brother Sun is interested in is not the investment value of this banana, but the $6.2 million spent on marketing. His goal has also been achieved, as well-known media from both China and abroad have reported on this purchasing behavior.
Comedian has become a part of the crypto culture, but $Ban is not worth buying.
The comedian has become a part of the meme coin culture in the crypto space, and Brother Sun spent a fortune to buy this banana, promoting the crypto culture.
The meme coin $Ban is created based on this artwork and was deployed on the Solana chain by Sotheby's Vice President Michael Bouhanna through pump.fun.
After the news broke that Sun Yuchen bought Comedian, $Ban surged 20% in the short term.
In the current trend of Memes, choosing a profitable Meme poses a significant challenge. Ban can be classified as an artistic Meme, not a new concept. However, its advantage lies in endorsements from well-known figures. The project was initially launched by Michael Bouhanna, the vice president of Sotheby's, and according to early wallet address data, its holdings reached 3.78%.
And Musk, the king of meme delivery, also called Ban, and he once forwarded the news related to $Ban.
This time, Sun Yuchen has joined and spent a large sum to acquire Comedian. However, there is a joke in the market: "Whenever Brother Sun enters the market, it means that this track is nearing its end in the short term." On-chain messages indicate that Brother Sun has not yet shown any signs of purchasing $Ban.
Currently, the overall Meme Coin market has experienced a certain pullback, with some projects that were very popular a week ago, such as PNUT and ACT, nearing a halving from their peak.
Currently, Bitcoin continues to break new highs, while altcoins are lying still on the ground, and the hype around Memes is also cooling down. Excluding stablecoins, Bitcoin's share of the total market capitalization in the entire crypto market has reached as high as 70%.
Bitcoin is about to break 100,000 USD, and a correction is imminent. At this time, it is not recommended to buy already hyped Memes.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Is it still possible to buy Comedian $Ban after Sun Yuchen bought it for $6.2 million?
Jessy, Golden Finance
On November 20th local time, Tron founder Justin Sun acquired the iconic artwork Comedian banana by artist Maurizio Cattelan for $6.2 million.
The artwork is indeed a real banana, and many people may not understand why Sun Yuchen spent a huge sum to purchase a banana.
According to Sun Yuchen's own explanation, it is roughly "not only a piece of art, but also a cultural phenomenon that connects art, meme culture, and the cryptocurrency community."
The Comedian Banana has indeed become a part of crypto culture, generating a meme $Ban (Comedian) in the crypto circle, with Comedian Banana artworks as the underlying assets.
After the news of Sun Yuchen buying Comedian broke, $Ban rose about 20% in five minutes, with its market value briefly surpassing 230 million dollars. However, as of the time of writing, the token's price has dropped 30% compared to the previous day.
A marketing campaign of 6.2 million dollars
Sun Yuchen purchased the artwork Comedian Banana, which is created by the Italian artist Maurizio Cattelan. This is a piece consisting of a fresh banana that is taped to the wall with duct tape.
Originally, Maurizio Cattelan created this for an art fair in 2019, during which Maurizio Cattelan bought these bananas at a grocery store in Miami for about thirty cents. The work comes with a certificate of authenticity and detailed proper display instructions for the owner to use when exhibiting the piece. The bananas and tape can be replaced as needed.
The gallery owner of the exhibited work once commented on this piece: "A symbol of global trade, a play on words, and also a classic form of humor."
The main characteristic of Maurizio Cattelan's artworks is humor. Some previous representative works include the 2016 creation "America" - a fully functional gold toilet.
The comedian has also stirred controversy, with The Guardian calling it "a work of genius beyond comprehension... It reminds one of a classic joke from Lucille Ball's 'The Developmentally Disabled' about wealthy people not knowing the price of bananas." Artnet wrote that this piece is one of the worst of the week, stating that Cattelan "somehow tricked a group of collectors into buying bananas taped to the wall for $120,000 each." USA Today quipped, "This artwork is a banana—literally."
There are many voices of praise. Noah Charney stated in his 2021 book "The Devil in the Gallery" that "Comedian is neither beautiful nor showcases skill, hence it represents the line of Duchampism." The author Brian C. Nixon mentioned in his work "Beauty (and the Banana)": "At the very least, Comedian is a commentary on the wild world of contemporary art, conveying how culture understands, interprets, and interacts with art."
Art is difficult to understand, but in the folk community, everyone has started to use this banana as a meme, even Musk was memeing this work on X a few years ago.
After the birth of Comedian Banana, there was no shortage of buyers interested in it. A total of three versions of the work were issued. Two of them were sold at the Basel Art Fair for a price of $120,000.
This time, the auction house Sotheby's auctioned off the remaining piece of the Comedian banana, which was originally expected to sell for between $1 million and $1.5 million. However, the final price reached as high as $6.2 million.
Sun is not short of money. According to the New York Times, he outbid six other competitors to acquire this piece. In an interview with the New York Times, he stated, "In the coming days, I will personally eat this banana as part of this unique artistic experience, to commemorate its place in art history and popular culture."
What Brother Sun is interested in is not the investment value of this banana, but the $6.2 million spent on marketing. His goal has also been achieved, as well-known media from both China and abroad have reported on this purchasing behavior.
Comedian has become a part of the crypto culture, but $Ban is not worth buying.
The comedian has become a part of the meme coin culture in the crypto space, and Brother Sun spent a fortune to buy this banana, promoting the crypto culture.
The meme coin $Ban is created based on this artwork and was deployed on the Solana chain by Sotheby's Vice President Michael Bouhanna through pump.fun.
After the news broke that Sun Yuchen bought Comedian, $Ban surged 20% in the short term.
In the current trend of Memes, choosing a profitable Meme poses a significant challenge. Ban can be classified as an artistic Meme, not a new concept. However, its advantage lies in endorsements from well-known figures. The project was initially launched by Michael Bouhanna, the vice president of Sotheby's, and according to early wallet address data, its holdings reached 3.78%.
And Musk, the king of meme delivery, also called Ban, and he once forwarded the news related to $Ban.
This time, Sun Yuchen has joined and spent a large sum to acquire Comedian. However, there is a joke in the market: "Whenever Brother Sun enters the market, it means that this track is nearing its end in the short term." On-chain messages indicate that Brother Sun has not yet shown any signs of purchasing $Ban.
Currently, the overall Meme Coin market has experienced a certain pullback, with some projects that were very popular a week ago, such as PNUT and ACT, nearing a halving from their peak.
Currently, Bitcoin continues to break new highs, while altcoins are lying still on the ground, and the hype around Memes is also cooling down. Excluding stablecoins, Bitcoin's share of the total market capitalization in the entire crypto market has reached as high as 70%.
Bitcoin is about to break 100,000 USD, and a correction is imminent. At this time, it is not recommended to buy already hyped Memes.