Justin Sun announced that the JUST NFT Fund has officially NFTized Pablo Picasso’s “Femme nue couchée au collier (Marie-Thérèse)” and this artwork was purchased last March 23rd at Christie’s in London during their modern and contemporary evening art sale.
JUST NFT Fund also purchased Andy Warhol’s ‘Three Self Portraits’ for 2 Million USD on the same evening art sale and it would be possibly the next in line to be digitally registered on the blockchain via a process known as tokenization.
How did they NFTized Pablo Picasso’s Artwork?
(1/3)📢 I am thrilled to announce that Pablo Picasso’s artwork has been NFTized for the first time ever by JUST NFT Fund. pic.twitter.com/AltRFTwlwd
— Justin Sun 🅣🌞 (@justinsuntron) April 28, 2021
JUST NFT Fund’s purchased artwork proceeded into a process called tokenization which is very common in the NFT industry.
As stated by JUST NFT Fund, they mentioned that the ownerships of the Pablo Picasso artwork have been mapped on the TRON public chain according to the TRC721 standard and it will permanently preserve the artwork on the TRON Blockchain and BTFS decentralized storage system.
Expect to see JUST NFT Fund purchasing more world-class artworks from world-class artists and it is just a matter of time that their artwork will be added to the TRON Blockchain.
What is JUST NFT Fund?
JUST NFT Fund was established by Justin Sun which focuses on acquisitions of blue-chip art and artworks from top NFT artists in the industry. It is the NFTization and transfer of the world’s top artworks to the blockchain.
FUCKKKKKKKKKKKKKK!!!!!!!!!1111111 MASSIVE CONGRATS TO @justinsuntron !!!!!!!!!!!1111
SIX MILLION DOLLARS for climate change. THIS is what we need to enact real meaningful change… to work TOGETHER instead of fighting one another. 🙏🙏🙏
we CAN do this, we WILL do this. ❤️ pic.twitter.com/htsWhv503l
— beeple (@beeple) March 23, 2021
Asides from the Warhol and Picasso artworks, Justin Sun recently purchased a carbon-neutral digital art made by Beeple for 6 Million USD and able to outbid everyone on CarbonDrop, the three-day auction of non-fungible tokens (NFT) artworks.
The JUST NFT Fund will only accept NFT art pieces that have a price tag of at least 1 Million USD and a median price of around 10 Million USD.
The said fund aims to build a bridge between top-notch artists and blockchain and to support the growth of native crypto NFT artists.
For more news and updates, see Tron Spark.