Conceptual work created by Italian artist Maurizio Cattelan was sold at auction in New York last week
The cryptocurrency entrepreneur Justin Sun has fulfilled a promise he made after spending $6.2m (£4.88m) on an artwork featuring a banana duct-taped to a wall – by eating the fruit.
At one of Hong Kong’s priciest hotels, Sun, 34, chomped down on the banana in front of dozens of journalists and influencers after giving a speech hailing the work as “iconic” and drew parallels between conceptual art and cryptocurrency.
“It’s much better than other bananas,” Sun, who was born in China, said after getting his first taste. “It’s really quite good.”
People living in the streets, going to bed / waking up hungry, or on the verge of bankruptcy from medical bills. Should I do something about that or should I spend $6.2 million on a banana that was duct-taped to a wall and deemed “art”?
The wrong fucking people have money.
At least he has spent the 6 mill.
I find that better than if he had continued to sit on the money. Somebody else can do better things with it now.
True, good point.
This is just the rich shuffling money between themselves and getting attention for it.
In many cases the people were shitty to begin with. But also having that much money and therefore power is really bad for you brain
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“Entrepreneur.”
Gentle reminder that you cannot make money in crypto unless someone else loses money. It’s not entrepreneurship. At best, it’s scam artistry, at worst fraud or theft.
I’m sure the banana wasn’t what the money was for. It was the cache of weapons and drugs being delivered somewhere.
Wouldn’t that also describe wall street in general?
To some extent. Speculation on the stock market used to be illegal until the 80’s, meaning that investments had to be based on a company’s tangible performance. Companies are not ephemeral, like crypto, but represent real people doing real work. So the stock market is not a zero-sum game (like musical chairs).
Crypto is fundamentally different. Bitcoins have no utility. They don’t “do” anything (except consume ungodly amounts of power to no discernible end).
Let me put it this way: if Microsoft died tomorrow, some would chortle with secret delight, but the truth is that a lot of our infrastructure would need to be rebuilt from scratch — hundreds of thousands of jobs lost, computer networks, servers, websites, gaming and cloud ecosystems would be decimated. Something like 25% of the internet would be down.
If bitcoin disappeared tomorrow nothing would happen, because bitcoin isn’t real. It does nothing and represents nothing. It’s a distillation of the most purified nothing that ever was. If bitcoin vanished that would be a boost for the environment and a boost for the economy (as people stop pissing away money by buying literal nothing).
Speculation on the stock market used to be illegal until the 80’s
The good old days. Every month I discover a new good regulation that we lost :(
Tbf, money isn’t real. Blips on a monitor.
Wouldn’t this describe any economy…?
Good point. I agree it would
I mean, that’s capitalism in a nutshell no? Unless you’re a government mint, No one can make money unless someone else loses money.
Currency yes, but value no. In fact that’s part of why you can’t set currency at a set number of dollars per person. If you did that currency would deflate
Yes, if you consider paying for service to be losing money. If you invest in a company and it succeeds, you earn a portion of the money (in exchange to providing some up-front). In theory, this is a win-win-win situation: the investor gets a return, the company gets capital to get things going, customers get a new product/service provider.
That said, things like stock trading, especially high-frequency trading, do seem to function in this way.
Yes, if you invest in a company you initially lose money while the company gains money.
You invest so that eventually you get money back, which means the company pays you back and therefore loses money.
The money the company pays you with is money that the company gained by other people’s such as clients and customers giving them money for their service, and therefore they lose their money which eventually ends up in your pocket as your investment starts to earn you money.
In the end the company and the investor earn money if the company is successful but ultimately the the money comes from the customers who are losing that money.
I only take issue with the phrasing of “losing money” - but if we agree that that’s just semantics (because everybody is getting value for their money), then yeah, I completely agree
Depends on what you mean by “money” I guess, but banks create money every day when they give out loans for more money than they actually have.
It’s one banana, Michael. What could it cost, $6.2M?
Also, fuck everyone involved in this nonsense.
I wouldn’t blame anyone for selling this as an art piece tbh. If people have too much to throw away? If someone told me I could like glue an apple to a painting and get crazy cash for it I’d do it in an instant
Honestly, there are so many things to be mad at Justin Sun for, but this is a tempest in a tea cup.
The artwork itself was intended to be ephemeral. The banana inevitably rots. Eating it is, arguably, participating in the artist’s intent. The work was itself a play on the insanity of the high art world. Buying a piece of art just to destroy it is a perfect way to engage with that.
And the artist got paid. A creative person doing creative work made money in a world where so much creativity is being ground down to dust or offloaded to machines.
I’d rather focus on being mad at Jeff Bezos, Elon Musk and all the other billionaires. This is a million miles from being the real problem.
That banana in the photo looks pretty damn fresh to me, how does that work when it’s been some time since the piece was created?
The artist replaces the banana. The art is the concept of the banana on the wall, not the banana itself.
It’s like any art that involves water, like a fountain. You can replace the water and it’s still art.
I’m curious if the artist will continue to replace the banana or if they consider their art to be consumed now.
I think someone else mentioned that the sale included “instructions” on replacing the banana. Which is obviously a joke, but the whole thing is obviously a joke. There’s a real “My grandfather’s axe / ship of Theseus” thing going on there.
Yeah, art is weird like this. It’s not the first time someone has created low-effort garbage and sold it for more than its value. It won’t be the last either. But, it’s fun to observe and react to it.
I think calling this “low effort” maybe misses the point. Don’t think of this as an artwork in the classical painter sense, but rather as a performance. The effect comes from the process as much as from the result.
And yes, it’s easy to say that there was no skill or craft in the performance, but that too is part of the point. Sometimes it not that no one else could do this; it’s simply that no one else did.
In a sense you’re right that this is intentionally low effort. But I think that also dismisses the creativity, insight, and brazen audacity it took to actually pull this off.
Calling it low effort garbage is exactly the point. Art is weird like that. It’s contextual.
Yeah, I guess in that sense we’re saying the same thing.
He’ll try to convince Sun to sell the poop.
It’s Justin Sun. He’ll mint an NFT of the poop, fractionalise it and sell it as a new stablecoin.
Make it into banana bread
And now we know why people should not have that much money. When you can throw away enough money to change thousands of lives for the better the system is broken.
“The artwork owner is given a certificate of authenticity that it was created by Cattelan, as well as instructions about how to replace the fruit when it turned bad.”
Kinda unbelievable, I assume it’s just to take the tape off and slap it on a new banana
Cattelan is actually a cool guy and this is a troll that has worked for him more than once.
https://en.wikipedia.org/wiki/Maurizio_Cattelan#Selected_works
My favorite work of his is definitely the one entitled simply “America.”
He made it in 2016. Can’t imagine what might have prompted it…
crypto and art are mostly used for money laundry
Crypto entrepreneurTurbo douche eats banana art he bought for $6.2mJust another rich nobody who’s desperate to buy people’s attention.
There is not a single thing about this that isn’t moronic. Calling the banana art, buying it for millions, or eating it to show off.
Apparently moronic is considered art.It’s wasteful not to eat a free banana. It’s just money laundering
Honestly? Good for him. It was a garbage art piece anyway. It was literally made just to launder money.
So desperate for attention
Now, freeze dry and bottle the poop from digesting said banana.
???
???
- Profit
Jason Shin ate an orange glued to a floor he paid 13.7 thousand pokemon cards for? Who? What? Why should I care?
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