Two weeks ago crypto investor Justin Sun paid $6.2 million for a banana duct-taped to a wall, highlighting the soaring values of crypto and viral art. Sotheby’s auctioned off the infamous banana, titled “Comedian,” created by Italian artist and cultural prankster Maurizio Cattelan. “This is not just an artwork,” Sun said in a statement. “It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community. I believe this piece will inspire more thought and discussion in the future and will become a part of history. I am honored to be the proud owner of this iconic work and look forward to it sparking further inspiration and impact for art enthusiasts around the world.”
“Comedian” shot to fame at its debut at Art Basel Miami Beach in 2019, priced at $120,000. The image of a banana duct-taped to a wall, and priced at six figures, went viral over social media and attracted such massive crowds that the work had to be removed. There were three editions of “Comedian” created and sold, with one going to the Guggenheim Collection thanks to an anonymous donor, and the other two purchased. The seller of the Sotheby’s banana had purchased it from one of the original buyers and was reselling it. For his $6 million, Sun will get a roll of duct tape, instructions on how to “install” the banana and (most importantly) a certificate of authenticity guaranteeing it as an original work of Cattelan’s. The banana is not included, since it will quickly rot and need to be constantly changed for display. Because the value of the banana is derived from the certificate, rather than the object itself, many in the crypto community likened it to an NFT. The seller, clearly understanding the appeal, accepted crypto as a form of payment.
Last Friday, a week after buying it, Sun ate the banana in a move he bragged about on social media.
"Many friends have asked me about the taste of the banana,"; Sun wrote in a post on X alongside a video of him eating the multimillion-dollar piece. "To be honest, for a banana with such a back story, the taste is naturally different from an ordinary one.” Sun wrote that as thanks to Shah Alam — the 74-year-old Bangladeshi fruit stand employee who originally sold the banana for just 25 cents — he would purchase 100,000 bananas to be distributed for free to Alam's customers. Speaking to the New York Times, however, Alam noted a number of logistical issues with Sun's proposal. The profit on bananas is relatively low, Alam told the paper — only about $6,000 on a purchase of 100,000 bananas. And Alam is an employee of the fruit stand, not its owner. His salary of $12/hour during his 12-hour workday, which affords him a shared basement apartment in the Bronx, would not be affected by a bulk novelty sale.
In Parshat Vayeitzei we read about Yaakov’s dream of a Sulam, a ladder, stretching from earth to heaven. The Baal Haturim notes that the Gemataria (numerical value) of the word Sulam is the same as mamon, money, and oni, poverty. A ladder can bring a person to great heights as well as to the lowest depths. That is why a ladder is a proper metaphor for both prosperity and poverty. Money has the ability to elevate a person if used for charity and good deeds. But money can also degrade a person if used to indulge one’s base desires. Poverty also is like a ladder. The Talmud (Eruvin 41b) teaches that a poverty-stricken person is vulnerable to sinfulness. On the other hand a person who “passes the test of poverty” is elevated in that his/her happiness and self-worth come from within and not from the size of their bank account. People who have little can live simpler lives, while feeling blessed and truly free. Both poverty and wealth can be a test. Whatever comes our way, let us utilize to move up the ladder, and never down.
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