TL;DR Breakdown
- Justin Sun bought Beeple’s OCEAN FRONT masterpiece for $6 million.
- The NFT will be stored on TRON, marking the network’s foray into the NFT market.
The founder of TRON, Justin Sun, has been named the winner of the “OCEAN FRONT” masterpiece from the popular digital artist, Beeple, who’s formally known as Mike Winkelman. Beeple’s OCEAN FRONT, alongside seven other digital arts, were listed for auction as non-fungible tokens (NFTs) on Nifty Gateway. The objective was to help create awareness and fight climate change, whereas the proceeds were to be donated to Open Earth Foundation, a non-profit.
Justin paid $6 million for Beeple’s masterpiece
The OCEAN FRONT digital art was reportedly auctioned-off at $6 million to Justin Sun. According to him, the auction was completely non-profit-making. All the proceeds will be transferred to Open Earth, as earlier noted, for the development of digital infrastructure to help improve planetary resilience and better management of Earth. Meanwhile, the development today is considered a milestone as it marks TRON’s foray into the non-fungible token market.
Beeple’s OCEAN FRONT will be mapped on the TRON blockchain, which will probably be the first NFT art to be hosted on the blockchain. The ownership of the NFT will be immortalized on TRON as a TRC721 standard and also on BitTorrent File System (BTFS) for decentralized storage. Justin added:
This $6 MIL not only opened a new chapter in the technology-enabled history of NFT art, this is only the beginning of a magnificent future. We have all reasons to believe that countless fantastic NFT works will emerge on TRON.
The CarbonDrop NFTs
A total of eight digital arts from popular artists, including Beeple, Sara Ludy, Kyle Gordon, Mieke Marple, etc., were listed on the NFT marketplace, Nifty Gateway, under the CarbonDrop initiative. A total of $6,662,054 was raised from the sale of the NFTs, all of which will be donated to the non-profit organization.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
