Justin Sun Wins $78.4 Million Auction for Famous Alberto Giacometti Sculpture, Donates it to APENFT

Key highlights:

  • TRON founder Justin Sun won an auction for Alberto Giacometti’s Le Nez sculpture
  • Sun paid $78.4 million for the artwork
  • According to Sun, he donated Le Nez to the APENFT project

Justin Sun wins auction for iconic Alberto Giacometti sculpture

TRON founder Justin Sun has won an auction for Le Nez, a sculpture by Swiss artist Alberto Giacometti. Sun says he won the auction at a purchase price of $78.4 million. The purchase price falls within the $70 million – $90 million estimate provided by Sotheby’s, which conducted the auction. 

The iteration of Le Nez purchased by Justin Sun was conceived in 1949 and cast from bronze, steel and iron in 1965. The sculpture consists of a head that’s suspended within a metal cage. The head has an elongated nose that extends beyond the confines of the cage. 

“Le Nez” by Alberto Giacometti. Image source: Sothebys.com

Giacometti is widely regarded as one of the most important sculptors of the 20th century. His likeness and artworks are even featured on the 100 Swiss franc banknote. 

Sun says he has donated Le Nez to APENFT

After purchasing the sculpture, Sun says he has donated Le Nez to APENFT, a project that registers valuable artworks and registers them as NFTs on the Ethereum and TRON blockchains. However, it’s currently unclear whether APENFT currently has plans to tokenize Le Nez.

“I wish APENFT Foundation will give new meaning to this masterpiece by enabling our community to have the opportunity to appreciate it through online and offline channels and get inspiration from it.”

According to APENFT, the addition of Le Nez to their collection brings its total value over the $100 million mark. 

APENFT recently launched their Art Dream Fund, a fund which aims to support emerging artists. The fund will tokenize artworks on the TRON blockchain, and will enable artists to participate in exhibitions and auctions globally. Currently, the Art Dream Fund is accepting art submissions exploring the “Second Life” theme, which is based around the concept of a parallel universe that exists digitally.

“We invite artists to portray their dream lives and futures through digital media. As technology profoundly changes the way we play, learn, organize, socialize, and create, there is an urgent need to explore what a highly intelligent and networked society requires us to be and what a high-tech, but humanized world would look like.”

In other APENFT related news, the project’s NFT token was recently listed on leading cryptocurrency exchange OKEx. In addition to spot trading, OKEx has also added a staking service for the NFT token on its Earn platform.

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