JUST NFT Fund to NFTize an Artwork by Pablo Picasso

by in Blockchain News

JUST NFT Fund Picasso Artwork

Tron network founder Justin Sun revealed launching the world's first Picasso NFT on the JUST NFT Fund.

Related: Binance launches NFT marketplace

On March 23, Tron Foundation obtained the artwork Femme Nue Couchee Au Collier (Marie-Thérèse) for a purchase price of $20 M via an auction administered by Christie’s. The painting was created by Picasso in 1932.

Tron's ownership is managed via the TRC-721 model over the TRON chain and BitTorrent’s file storage system (BTFS). This is an unprecedented case of Picasso's creation appearing on the blockchain.

There will be introduced a set of NFTs under the name “The First Collections” representing the works of painters, crypto artists, and more. Together with "Marie-Thérèse", Andy Warhol's "Three Self-Portraits", Beeple's "Ocean's Front", Pak’s full collection of NFT art, Time Magazine’s "The Computer in Society April 2nd, 1965" and other collectibles will be launched. The cumulative size of the collection has surged $30 M.

Justin Sun believes that in the following 10 years the half part of the works by the world's best known 100 artists will also exist in the form of NFT.