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Tron CEO Justin Sun Spends $10 Million on His First CryptoPunk

Tron CEO Justin Sun Spends $10 Million on His First CryptoPunk
  • Tron CEO Justin Sun spent $10 million on his first NFTs CryptoPunk.
  • The CryptoPunk TPUNK 3442 is his second NFT purchase.

Tron CEO Justin Sun spent $10 million on his first non-fungible tokens (NFTs) CryptoPunk.

Today, the CEO of Tron announced that he just spent $10 million on his first CryptoPunk, TPUNK 3442. CryptoPunk is kind of a pixelated digital avatar that has been attracting the wealthy since the beginning of 2021.

In addition, this is the second time the CEO has spent his money to acquire a digital collectible. The first time was on August 22, when he bought the Ethereum pet rock NFT for around $611K.

For instance, CryptoPunks is a set of 10,000 pixel-art figures made by Larva Labs in 2017. Also, these pixelated avatars, known as “CryptoPunks,” were first launched as an experiment. Besides, the characters were available for free. However, they are now being auctioned off to rich people for millions.

More so, CryptoPunk is one of the most famous NFTs. Plus, these NFTs are a type of computer-generated art saved on the Ethereum blockchain. And, Justin Sun’s CryptoPunk is one of the most expensive CryptoPunk. It comes second to CryptoPunk 7523, which was sold for around 11.8 million.

Note that NFTs exploded in demand in February and March this year. An NFT artwork brought $69.3 million to Christie’s, in the first sale by a huge auction house of artwork with no physical form.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.