{"id":185040,"date":"2021-03-23T15:40:08","date_gmt":"2021-03-23T15:40:08","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=185040"},"modified":"2021-03-23T15:40:08","modified_gmt":"2021-03-23T15:40:08","slug":"tron-founder-justin-sun-just-paid-6-million-for-a-beeple-nft","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tron-founder-justin-sun-just-paid-6-million-for-a-beeple-nft\/","title":{"rendered":"Tron founder Justin Sun just paid $6 million for a Beeple NFT"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/coins\/tron\/\">Tron<\/a> founder <a href=\"https:\/\/cryptoslate.com\/people\/justin-sun\/\">Justin Sun<\/a> splurged over $6 million on a non-fungible token (<a href=\"https:\/\/cryptoslate.com\/cryptos\/nft\/\">NFT<\/a>) created by digital artist Mike Winklemann, as per a tweet this morning. The piece is called \u2018Oceans Front\u2019 and part of a climate change initiative.<\/p>\n<h2>NFTs for climate change<\/h2>\n<p>The NFT was part of an art lineup called \u201c<a href=\"https:\/\/www.carbondrop.art\/\">CarbonDrop<\/a>,\u201d featuring crypto art from the likes of Sara Ludy, Refik Anadol, Andres Reisinger, and others, with all proceeds going to climate change causes.<\/p>\n<p>\u201cMassive congrats to Justin Sun. Six million dollars for climate change. This is what we need to enact real meaningful change. To work together instead of fighting one another,\u201d tweeted Winklemann after the sale.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">FUCKKKKKKKKKKKKKK!!!!!!!!!1111111 MASSIVE CONGRATS TO <a href=\"https:\/\/twitter.com\/justinsuntron?ref_src=twsrc%5Etfw\">@justinsuntron<\/a> !!!!!!!!!!!1111<\/p>\n<p>SIX MILLION DOLLARS for climate change.  THIS is what we need to enact real meaningful change&#8230; to work TOGETHER instead of fighting one another. ???  <\/p>\n<p>we CAN do this, we WILL do this. \u2764\ufe0f <a href=\"https:\/\/t.co\/htsWhv503l\">pic.twitter.com\/htsWhv503l<\/a><\/p>\n<p>&mdash; beeple (@beeple) <a href=\"https:\/\/twitter.com\/beeple\/status\/1374188158632464394?ref_src=twsrc%5Etfw\">March 23, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Sun seemed to have been stuck in a bidding battle with an anonymous entity called 3fmusic, sniping the NFT in the final minutes with a bid of $6 million. 3fmusic, on the other hand, seemed to have stopped bidding at the $5.5 million mark.<\/p>\n<p>The purchase came on the back of Winklemann\u2019s $69 million NFT sale earlier month that saw Sun lose out to pseudonymous NFT entity \u2018<a href=\"https:\/\/cryptoslate.com\/metakovan-explains-why-he-paid-69-million-for-beeples-nft-artwork\/\">Metakovan<\/a>\u2019 in the final seconds. The latter has since been revealed as an Indian immigrant in Singapore who has been involved in the crypto space since 2012.<\/p>\n<p>NFTs, for the uninitiated, are a cryptographic representation of tangible or intangible objects on the blockchain. They prove the <i>true<\/i> ownership of the assets that they back, and the latter can include (but is not limited to) digital art, real estate, fashion items, and even <a href=\"https:\/\/cryptoslate.com\/nft-project-mints-10000-digital-pizzas-in-throwback-to-bitcoin\/\">digital pizzas<\/a>.<\/p>\n<figure id=\"attachment_185048\" aria-describedby=\"caption-attachment-185048\" style=\"width: 396px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-185048\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/beeple-oceanfront.jpg\" alt=\"Beeple Oceanfront\" width=\"396\" height=\"703\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/beeple-oceanfront.jpg 848w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/beeple-oceanfront-169x300.jpg 169w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/beeple-oceanfront-577x1024.jpg 577w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/beeple-oceanfront-768x1364.jpg 768w\" sizes=\"(max-width: 396px) 100vw, 396px\" \/><figcaption id=\"caption-attachment-185048\" class=\"wp-caption-text\">The &#8220;Ocean Front&#8221; NFT by Beeple<\/figcaption><\/figure>\n<p>The sector has grown from a tiny niche in 2019 to a staggering $24 billion as of press time. Theta Network is the biggest NFT-focused project with an $11 billion market cap while fan token project Chiliz takes second place with a $2.78 billion market cap.<\/p>\n<h2>Beeple&#8230;NFT millionaire but remains wary<\/h2>\n<p>Winklemann, known popularly by his online name \u2018Beeple,\u2019 is one of the world\u2019s most valued \u2018living\u2019 artists who made the headlines this month after one of his digital art pieces fetched over $69 million in an auction. He netted over $53 million in Ethereum as a result of that sale.<\/p>\n<p>Some earlier art pieces have similarly fetched millions of dollars in auctions on various digital marketplaces, catapulting the long-time digital artist to somewhat of a crypto internet celebrity.<\/p>\n<p>But despite the money and the newfound fame, Winklemann\u2019s wary about the longevity of NFTs. \u201cI think there's a very good chance it's in a bubble,\u201d he said in a recent statement to <a href=\"https:\/\/www.businessinsider.com\/beeple-some-nft-investments-will-hit-zero-crypto-art-bubble-2021-3?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29&r=US&IR=T\"><i>Business Insider<\/i><\/a>.<\/p>\n<blockquote><p>&#8220;There's going to be a moment where we realize we got a little crazy and assigned insane value to crap,\u201d said Winklemann.<\/p><\/blockquote>\n<p>That said, however, he did mention that NFTs and crypto art were arguably the natural evolution of digital art as a whole. But he cautions against people thinking of this as easy money, \u201cJust making an NFT does not give it any value.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron founder Justin Sun splurged over $6 million on a non-fungible token (NFT) created by digital artist Mike Winklemann, as per a tweet this morning. The piece is called \u2018Oceans Front\u2019 and part of a climate change initiative. NFTs for climate change The NFT was part of an art lineup called \u201cCarbonDrop,\u201d featuring crypto art [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":185047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,76232],"tags":[60923,65509],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tron founder Justin Sun just paid $6 million for a Beeple NFT<\/title>\n<meta name=\"description\" content=\"Tron founder Justin Sun splurged over $6 million on a non-fungible token (NFT) created by digital artist Mike Winklemann.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/tron-founder-justin-sun-just-paid-6-million-for-a-beeple-nft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tron founder Justin Sun just paid $6 million for a Beeple NFT\" \/>\n<meta property=\"og:description\" content=\"Tron founder Justin Sun splurged over $6 million on a non-fungible token (NFT) created by digital artist Mike Winklemann.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/tron-founder-justin-sun-just-paid-6-million-for-a-beeple-nft\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-23T15:40:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/justin-sun-beeple.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/tron-founder-justin-sun-just-paid-6-million-for-a-beeple-nft\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/tron-founder-justin-sun-just-paid-6-million-for-a-beeple-nft\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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An economics graduate from the University of Wolverhampton, he breathes financial markets and decentralized ideologies. When not writing, Shaurya works on his culinary skills, trades the big three cryptocurrencies, and surfs airplane blogs.","url":"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/185040"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/65"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=185040"}],"version-history":[{"count":3,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/185040\/revisions"}],"predecessor-version":[{"id":185049,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/185040\/revisions\/185049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/185047"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=185040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=185040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=185040"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=185040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}