The Tron Foundation has launched its NFT (Non-Fungible Token) fund, known as the “Just NFT Fund”. That initiative is said to be the Ark Funds in the NFT Metaverse.
In an open letter to stakeholders on the Tron blockchain network, Justin Sun, the founder of the Tron blockchain, reiterated the revolutionary advances made by NFTs in the blockchain and crypto space today, predicting that up to 50% of the world’s artists and works of art will be included as NFTs over the next decade.
Just NFT Fund is able to attract top notch artists and fuel the growth of all supported creators.
“The coveted NFT market calls for the establishment of the JUST NFT fund, which is to act as an ARK fund in the NFT area, in order to register world-class works of art as NFTs in the blockchain. The JUST NFT fund was created to bridge the gap between world class artists and blockchain and to support the growth of indigenous crypto NFT artists, ”said Justin Sun in the Open Letter.
According to further details on the operational dynamics of the Just NFT Fund, only artists whose artwork has a price tag of $ 1 million and an average value of $ 10 million will be enrolled. The Tron Foundation said it would assume that “the art space is also subject to the 80-20 rule, or the Pareto Principle, where only the worth of the artists sitting at the top of the pyramid can stand the test of time . “
Justin Sun was a well-known fan of NFTs. He lost an offer for Beeples Everydays: The first 5,000 days to MetaKovan, but later made the winning bid for one of Beeples artwork entitled “The Ocean Front”. The piece, which has a climate change theme, sold for $ 6 million and the proceeds will go to charity.
The Ocean Front will be the flagship of the NFT for the Just Fund and will be assigned 1: 1 to the Tron network.
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