Justin San, the founder of Tron, announced the launch of his own cryptocurrency platform’s NFT fund. Only the most valuable non-replacement tokens, valued at more than a million dollars, will be shown.
The Sun Foundation dubbed it the “Only NFT fund” because they didn’t want to worry about it for a long time. The founder of Tron claimed in an open letter to members of the blockchain industry that it is difficult to disregard NFT’s performance in the art industry, as well as a ten-year prediction. According to him, 50% of well-known artists would convert their works to NFT.
Only selected artists with works starting at $1 million would be considered, with the total price of the fund’s works being about $10 million.
Only selected artists with works beginning at $1 million would be eligible, with the total price of the fund’s works being about $10 million.
The Tron Foundation aims to work on the Pareto or 80-20 theory, in which the importance of artists is equated to performance. According to San, they intend to partner with artists whose works would be able to endure the test of time.
The foundation’s key members will be figures from the contemporary art world, as well as employees of the world-famous auction houses Sotheby’s and Christie’s. The Foundation is searching for a professional who is able to take on the position of “lead artist” and serve as the organization’s chief advisor.
Provided Justin’s own passion for crypto art and betting, such as his recent purchase of the painting “Ocean Front” by Beeple. It will be the first item presented under the Just NFT fund and will cost $6 million.