Justin Sun, Tron CEO, buys Tpunk 3442 for equivalent to $10.5M in TRX

Justin Sun, CEO of Tron (TRX/USD), has purchased the second most expensive CryptoPunk, TPUNK 3442, for the equivalent of $10.5 million in TRX (120 million TRX). He has been known for his wild expenses on non-fungible tokens (NFTs), but he had never done something on such an unprecedented scale before. The CryptoPunk in question is a pixelated digital avatar that has been attracting the rich for quite some time.

He tweeted,

A CEO with a vision

On August 22, Sun spent around $611,000 on the Ethereum (ETH/USD) pet rock NFT. The pixelated avatars known as CryptoPunks, which were originally available for free, date from as recently as 2017, when they were created by Matt Hall and John Watkinson as an experiment. Now, they’re auctioning them to the rich for six-figure amounts. CryptoPunks are among the best known NFTs. They are stored on the Ethereum blockchain.

Registering world-class artworks as NFTs on blockchain

APENFT’s mission is to register world-class artworks as NFTs on blockchain, bridging the gap between the blockchain and top artists and supporting native crypto NFT artists’ growth. By turning art works and artists into NFTs, the platform transforms art from elite and exclusive to public and democratic and upgrades the way it’s hosted.

All kinds of reactions

Token holders and members of the crypto community on Twitter reacted in all kinds of ways, from showing Sun great support to sharp criticism. One user wrote, “Some people are paying crazy money for an avatar while others struggle to survive in this world.” Others pointed out it was for a good cause as he’s donating the whole purchase to APENFT as a collection. Still others emphasized the pragmatism behind the act – a way to draw attention to the Tron community.

In terms of price, the CryptoPunk TPUNK 3442 is second only to the CryptoPunk 7523, which sold for around $11.8 million.