Joker Tpunk costs Justin Sun $10.5 million. The extravagant purchase comes on the heels of the launch of NFTs on his Tron platform.
Justin Sun is one of the many big names who have jumped on board with the NFT trend. In a tweet on August 31, Justin Sun announced his first purchase of a digital avatar. ‘spent $10 million’ and the laughing emoji are both in the same sentence, which is hilarious.
Justin, the Tron blockchain’s founder, paid $10.5 million for a Tpunk dubbed “Joker.” The Joker Tpunk, also known as #3442, resembles the well-known Batman villain.
If you’re not familiar with Tpunks, let me explain.
Tpunks is the Tron Blockchain’s first NFT project. Tron, which was founded in 2017, guarantees cheaper and faster transactions. Additionally, creators can profit from the sale of their NFTs on this blockchain. Tron OGs provided significant support for the development of the new NFT ecosystem.
The NFT collection contains 10,000 avatars, some of which have extremely rare characteristics. Avatars with more distinct characteristics are generally more sought after by collectors. There are 11 Justins, 88 zombies, 24 apes, and 9 aliens in the collection.
One of the reasons Sun created this collection was to make the popular CryptoPunk series more interesting. According to DappRadar, this NFT project, which has gained significant traction since its launch, is currently ranked fourth in the collectible Dapps. Rare Tpunks can fetch more than $800,000 in some cases.
Justin Sun is at it again, this time with NFT expenses.
Justin Sun is no stranger to the world of NFTs, and this isn’t the first time he’s spent a lot of money on a digital collectible. On August 22, he paid $611,00 for the Ethereum pet rock.
Sun also made a $60 million bid for Beeple’s digital art piece, “Everdays: the First 5,000 Days.” He was outbid by $250K at the last minute.
The NFT Fever
Non-fungible tokens have sparked a lot of interest in the cryptocurrency community, and many high-profile influencers are eager to test the waters sooner rather than later. Justin is not the first influencer to make a name for himself in the NFT sector. For example, Jay Z collaborated with Sotheby’s to launch “Heir to the Throne,” an NFT inspired by his “Reasonable Doubt” album. The rapper also used a CryptoPunk as his Twitter profile picture, despite the fact that he did not buy one. Highly influential influencers are frequently vocal on their Twitter profiles, eager to arouse excitement among their large fanbase and to join rapidly growing trends.
Several other NFT projects have also brought in millions of dollars. The most well-known series, CryptoPunks, recently surpassed $1 billion in sales. The NFT craze has not only thrived on the walls of digital art, but it has also reached institutional markets. On August 23, Visa, for example, added CryptoPunk #7610 to its collection, citing NFTs as a “new era” of collecting.