People can't help but wonder what deep meaning lies behind Sun Yuchen's recent move.

Author: Huobi HTX

On the morning of November 21, Beijing time, Sun Yuchen, global advisor of Huobi HTX and founder of TRON, won the famous contemporary artwork "Comedian" by Italian artist Maurizio Cattelan at Sotheby's "NOW Contemporary Art Evening Auction" for a price of $6.2 million including commission, making this banana taped to the wall the most expensive fruit in history. This news quickly swept the globe, sparking heated discussions online. People can't help but wonder what deep meaning lies behind Sun Yuchen's recent move.

On the evening of November 22, Sun Yuchen attended a special program on Huobi Live, sharing the story of his banana with a wide audience and discussing the significance of this art auction for the cryptocurrency ecosystem with several well-known crypto KOLs and blockchain industry media.

The Rise of the Banana: A Phenomenal Meme

Sun Yuchen stated that he had known about the existence of the "taped banana" artwork for a long time, but his true understanding came from Meme coins. During his involvement in the listing business at Huobi HTX, Sun Yuchen conducted extensive research on the Meme ecosystem and noticed the Meme related to bananas (BAN, which was launched on Huobi HTX in late October), which sparked his interest in "Comedian" and this auction.

With a mindset of giving it a try, Sun Yuchen participated in the bidding and successfully won. However, he admitted that the immense popularity that followed completely exceeded his expectations. "I never expected this banana would become so popular. People might know it has some heat in the crypto circle, but I didn't expect it to be so hot outside the circle," Sun Yuchen said. "I saw my WeChat search index soar, even surpassing Ma Huateng at one point. This banana was on the front pages of The New York Times, BBC, CNN, and was even more talked about than the G20 summit."

What also surprised Sun Yuchen was that this auction featured items estimated at nearly $20 million, but during the preview, "almost 90% of the people were there to see this banana, while no one looked at the other $18 million collectibles." He added, "This scene reminded me of Meme coins, which previously also surpassed Bitcoin in popularity and became the market's focus. I hope this artwork can provoke thought and create a cross-border resonance between art, memes, and the crypto community."

From Buffett's Lunch to a Banana Flying into Space

When discussing Sun Yuchen's achievements at the auction, one cannot overlook his lunch with Buffett. Recalling the scene of dining with Buffett, Sun Yuchen mentioned two suggestions he made to Buffett at that time: "I suggested that Buffett invest most of his cash in two targets, one being Tesla, which was very low-priced at the time, and the other being Bitcoin and other cryptocurrencies. Four years have passed, and whether it's Musk's rise or the development of the crypto industry, the changes have been significant. Unfortunately, Buffett did not take these suggestions, which may have been a missed opportunity for him."

In fact, Musk also has a connection to bananas; during the sixth test flight of Starship, a model banana was carried as a zero-gravity indicator, and it was even painted with banana designs. Regarding his next plan after acquiring the banana, Sun Yuchen said, "I hope to tie this banana to Musk's SpaceX rocket and send it to Mars. This would create a scene full of Meme humor. Imagine a banana tied to a rocket, traversing the vast cosmos to reach Mars or the Moon, and then being auctioned for charity upon returning to Earth. Such an act is very tangible, reflecting not only the spirit of memes but also showcasing the power of crypto culture to transcend boundaries and break conventions."

Building a Bridge from the Public to the Crypto Ecosystem with a Banana

While a $6.2 million banana is certainly expensive, it acts as a lever that has attracted global attention. In Sun Yuchen's view, the banana symbolizes the aesthetic of the crypto community, and compared to traditional art collection, its emotional power is even stronger. "The connection between the art world and the crypto world is very close. The PEOPLE of the previous cycle was also related to art auctions, where everyone was crowdfunding to bid on a copy of the U.S. Constitution. However, the triggers that ignite these two circles are different. Compared to the art world, the crypto world excels at conveying culture through humor and rebellion, making it easier to resonate with the public. This aesthetic, which is closer to ordinary people's emotions, may be the reason it distinguishes itself from traditional art," Sun Yuchen said.

Guests attending this Huobi Live event also shared their views and feelings regarding the auction. KOL DaDa stated, "The banana artwork is a perfect case of Meme culture; its creation aims to humorously challenge the traditional definitions of value in the art world, resonating with everyone through absurd expression. The crypto community and Meme culture have a natural fit, as cryptocurrencies inherently carry a spirit of anti-authority and decentralization. The global attention sparked by this auction can form a bridge between traditional culture and crypto culture, accelerating the globalization of Web3. Through this artwork, more outsiders will not only know that Bitcoin is about to break $100,000 but will also pay attention to the cultural aspects of the crypto market."

Jack Kong, founder of Nano Labs, believes, "Meme coins are a native blockchain financial culture and a very sustainable long-term track. Essentially, Bitcoin was also a Meme in its early days, slowly evolving into a financial miracle for the world. So, memes can create miracles. The significance of Sun Yuchen's auction is not what he has endowed to memes, but rather that he himself has become a meme."

Liuyé, a spokesperson for Huobi HTX, stated that Sun Yuchen's purchase of "Comedian" for $6.2 million is a milestone event in both art history and crypto history. Liuyé said, "This will attract more creators into the crypto world, making the entire ecosystem more comprehensive. I look forward to seeing everyone's new evaluations of this event in a few years."

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