TRON (TRX/USD) founder Justin Sun tweeted that he bought three Digital Zones editions for 569 ether, equivalent to $2 million, and donated them to APENFT Foundation. He bought the NFT works Edition 92 of Series 7 and 83 and 84 of Series 6. The series was created by artist Mitchell F. Chan and originally dates from the 60s.
Digital Zones was inspired by Zone de sensibilite picturale immaterielle, an artwork created by the famous French artist Yves Klein. Mitchell Chan produced eight DZ series with 101 NFTs in total. The artwork by Klein takes the form of receipts.
Digital Zones is one of the first NFTs on Ethereum
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
When Chan learned about Ethereum (ETH/USD) in 2017, he decided to turn Klein’s project into an NFT using blockchain technology, bridging the gap to non-tangible conceptual art. He also wrote a detailed bluebook for Digital Zones.
The timing of the minting makes Digital Zones one of the earliest NFTs on Ethereum, second only to the legendary Cryptopunk. It debuted at InterAccess in Toronto, becoming one of the first NFT artworks to be featured in a conventional art gallery.
All editions sold out
With the NFT industry becoming bigger and bigger, the huge value of such NFTs became apparent. All of Chan’s editions have sold out except for some editions in Series 0 that he owns. On the secondary market, they are changing hands at a minimum of 200 ETH. Reportedly, Digital Zones Edition 10 of Series 0 will be auctioned on Sotheby’s between October 14 and 21.
Justin Sun is a veteran NFT collector
Since this March, the founder of TRON has bought NFT artworks by Warhol, Picasso, and other eminent artists. He has also purchased works by Pak, Beeple, and other crypto artists from Christie’s, Sotheby’s, and Nifty Gateway.
TRC-721 standard used to map ownership
The TRC-721 standard is used to map ownership of these artworks onto TRON’s public chain. They will be stored there permanently. TRON is famous for its comprehensive NFT ecosystem with solid hardware and software. It has more than 56 million users, the biggest supply of stablecoins in circulation all over the world, and over 2.4 billion transactions.
67% of retail CFD accounts lose money