Justin Sun, Tron’s founder and CEO of BitTorrent, created the NFT for The First Collections, which includes Picasso’s works.
Recently, the Just NFT Fund bought a Picasso painting for $ 20 million to mark the fund. The team behind the project today announced the official launch of the NFT for the collection, which includes Picasso’s work.
Bridging the gap between traditional art and the digital world
The NFTization of important works of art that have existed for decades and centuries forms the foundation of this project.
The start shows “The First Collections”, including Femme Nue Couchee Au Collier (Marie-Thérèse), a work by Pablo Picasso. The 1932 piece was acquired by Sun through an auction held by Christie’s on March 23rd. The collection also includes Andy Warhol’s “Three Self-Portraits”, Beeple’s “Ocean’s Front”, Pak’s entire oeuvre of NFT art and the NFT cover “The Computer in Society April 2, 1965” by Time Magazine. The entire collection is valued at over $ 30 million
NFTs are a major blockchain technology innovation in the arts. By assigning a unique digital signature to each work, the uniqueness and dissemination of the work can be effectively ensured. The NFT technology allows the digital format of all physical graphics to be uploaded to the BTFS system and the BTFS address of the corresponding NFT graphics to be generated. The information is then written in the smart contract according to the TRC-721 standard, and the uniqueness of the work is confirmed by the contract address. Take Picasso’s “Femme Nue Couchee Au Collier” NFT process as an example. The final contract address that it generates is located here and confirms its creation.
This is the latest initiative by the JUST NFT Fund to increase the number of actively engaged users of NFTs. Justin Sun said:
“I firmly believe that in the next ten years 50% of the world’s top 100 artists and works of art will be NFT certified. The JUST NFT Fund will pick up on and reinforce this trend. “
The NFTization of such important works of art is more likely to break the technology circle and bring full attention to the arts, collection, investment and finance, and then to business in those industries.
“The mission of the JUST NFT Fund is the NFTization and blockchainization of the world’s best works of art and the bridge between the world’s leading artists and the blockchain,” said Justin at the start of the project.
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Consolidation of the NFT gold rush
In the past few weeks, the JUST NFT Fund has made leaps and bounds, reflecting not only Justin Sun’s unique strategic capabilities, but also a strong footnote on the overall positive market we’re in, the NFT market has reached $ 563 million , Transaction volume exceeds $ 5.5 million and total February revenue increased almost eight times compared to January. As of April 25, a total of 196,000 encrypted works of art have been sold and the total market value of NFTx works of art exceeds $ 549 million.
Currently, other members of the JUST NFT fund team come from traditional arts such as Christie’s and Sotheby’s and are also involved in the NFT industry. The fund also invites some of the world’s leading artists as art advisors. Justin Sun said, “The JUST NFT Fund is committed to NFTization and blockchainization of the world’s best works of art. Our vision is to become the ARK Ark Star Fund in the NFT space. “
TRON is intended to serve as the underlying support platform of the JUST NFT Fund and offer a complete solution for the NFTization of traditional works of art. Justin Sun expresses his vision to become the ARK Ark Star Fund in the NFT space.
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