- JUST NFT Fund purchased artwork by Pablo Picasso at $20 million.
- NFT for ‘The First Collections’ includes artwork from Picasso, Warhol, and Beeple.
- NFT market has reached $563 million and the transaction volume exceeds $5.5 million.
JUST NFT Fund has officially launched the NFT for ‘The First Collections’ including Picasso’s works. Recently, the JUST NFT Fund purchased artwork by Pablo Picasso at $20 million.
Remarkably, the JUST NFT Fund seeks to pave the way for traditional art into the digital world. Specifically, the mission of the JUST NFT Fund is the NFTization and blockchainization of the world’s top artworks. Furthermore, it also aims to build a bridge between the world’s top artists and blockchain.
Presently, the first batch of collections includes Picasso’s ‘Femme Nue Couchee Au Collier and Andy Warhol’s ‘Three Self-Portraits’. Additionally, the works of renowned NFT artist Beeple’s ‘Ocean’s Front’ and celebrated digital artist Pak will join the show.
Moreover, the entire set of NFT works and the NFT cover of ‘Time’ magazine ‘The Computer in Society April 2nd, 1965’ will also make an appearance. Notably, the total size of the collection has crossed $30 million.
The ownership of the collections has been mapped to the TRON chain through the TRC-721 standard. In particular, it is permanently stored on the TRON public chain and BTFS (decentralized storage system). Therefore, this marks the ‘first show’ in the history of Picasso’s works on the blockchain.
Justin Sun, the founder of TRON and CEO of BitTorrent, says,
I firmly believe that in the next ten years, 50% of the world’s top 100 artists and artworks will be NFTized. The JUST NFT Fund will embrace and strengthen this trend.
TRON aims to serve as the underlying support platform of the JUST NFT Fund, providing a complete solution for the NFTization of traditional artworks. More so, Justin Sun expresses that its vision is to become the “ARK Ark Star Fund in the NFT field”.
Accordingly, the current total sales of the NFT market have reached $563 million. Additionally, the transaction volume exceeds $5.5 million. Current statistics reveal a total of 196,000 pieces of encrypted art as sold. Adding on, the total market value of NFTx art exceeds $549 million.
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