Justin Sun, CEO of TRON and BitTorrent shared an open letter to the community about the establishment of the JUST NFT Fund.
He also mentioned hiring a well-known artist as a chief NFT advisor for the JUST NFT Fund.
Recently, Justin Sun was a proud owner of an NFT masterpiece by Beeple which he won from a recent NFT auction hosted by the Open Earth Foundation.
What is JUST NFT Fund?
JUST NFT Fund, as mentioned by Justin Sun, is the NFTization and transfer of the world’s top artworks to the blockchain.
— Justin Sun🌞 (@justinsuntron) March 29, 2021
He plans to make JUST NFT Fund the best performing Ark Fund in the NFT Industry and create a bridge between blockchain and artists worldwide. The establishment of the JUST NFT Fund would result in the growth of NFT artists in the cryptocurrency industry.
The JUST NFT Fund will only accept NFT’s art pieces that have a price tag of at least $1Million and a median price of around $10 Million.
Core members of the JUST NFT Funds come from traditional art brands including Christie’s and Sotheby’s, which are also active with the NFT Market. All members have extensive experience in both traditional and digital art spaces.
They plan to closely collaborate with leading crypto artists and investors.
What is NFT?
NFT stands for a non-fungible token (NFT) which is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item. These digital items can be in a form of digital art, videos, video game skins, digital collections, and other types of digital work.
1/12 I participated in the @ChristiesInc #NFT auction for Everydays: the First 5,000 Days by @Beeple. My final effective bid was $60 MIL (plus fee $69 MIL). However, was outbid by another buyer in the last 20 secs by $250k. Difference was less than 0.3% of the total price.
— Justin Sun🌞 (@justinsuntron) March 12, 2021
Justin Sun has been very active with the NFT market lately, asides from owning an NFT masterpiece from Beeple last week, the previous month he participated on another NFT auction on Christie’s which he was outbid by MetaKovan for an NFT artwork that was sold for $69.3 Million.
Sun continues to create headlines and overtake all the other blockchains out there with the addition of JUST NFT Fund, looks like NFT is here to stay with TRON.
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