Justin Sun, the founder of the TRON blockchain, is currently one of the most intriguing figures in the NFT space. At just 32 years old, the self-made billionaire amassed a private collection of NFTs and traditional art valued at over $100 million. Sun’s collection includes art by Warhol, Giacometti, and Picasso.
Delighted by TRON’s success, Sun asserts that utilizing the blockchain has several benefits.
“TRON is more efficient, affordable, decentralized, and ecologically friendly.” Sun continues to add, “The TRON platform is supporting an enriching network and creating ongoing efforts to build out the ecosystem, which includes: infrastructure, DeFi, stablecoins, GameFi, and many more fields that create significant advantages for users.”
Justin Sun helped to establish the APENFT Foundation in early 2021 as a blockchain-based platform for housing, displaying, and sharing prestigious art collections, hosting virtual art events, and supporting the expansion of the APENFT Marketplace. Sun is now going through a time of personal and professional transformation. With the seasoned curator Sydney Xiong as the foundation’s director. Sun then shocked the cryptocurrency community by moving on from TRON to serve as the government of Grenada’s ambassador to the World Trade Organization in an effort to raise awareness of both cryptocurrencies and blockchain technology in the Caribbean.
Sun states, “This new identity as a collector is fun for me. In fact, I personally feel that there are many parallels between collecting art and investing in cryptocurrencies and blockchain.”
He continues, “Both cryptocurrency and art are volatile asset types. Therefore, you must ultimately purchase what you value and feel to be worthwhile. I often draw comparisons between Picasso, a forerunner of cubism, and EtherRocks, one of the oldest NFTs discovered by crypto-archeologists on the blockchain. I think Picasso’s contribution and importance as an artist are to art history what EtherRocks are to NFT history. “
Says Sun, “In the long run, NFTs, in my opinion, are amongst the most crucial elements of web3 and will be a game-changer for the next phase of the internet. NFTs have the potential to completely transform the current trading structure in the art market, particularly for digital art. The web2 paradigm makes it difficult to stop copyright infringement, which results in digital artworks losing the distinctive qualities of a unique asset. Furthermore, even if people are prepared to pay for digital artwork, it is challenging to locate the appropriate platform and distribution channels to buy, trade, and sell it on the secondary market since it has been challenging to identify true authorship and provenance. NFTs have changed how people purchase and sell art by enabling buyers to verify ownership and opening up all information and data to the public.”
This unique technology has fostered further transparency and autonomy for artists, creators, and developers who wish to thrive in the new age of the internet. Sun has been vocal about his leadership efforts and intends to continue to be a pioneer for the NFT and blockchain space as a whole.