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Tron Foundation Launches JUST NFT Fund

Tron Foundation Launches JUST NFT Fund

The Tron Foundation advocates the launch of its NFT (non-fungible token) fund named the “Just NFT Fund.” In an open letter to shareholders in the Tron blockchain network, Justin Sun, the Tron Blockchain Founder, restated the evolving strides of NFTs in the blockchain and crypto space today. It states that one will witness 50% of artists and artworks recorded as NFTs in the next decade. Moreover, JUST NFT Fund will sign up top-notch artists and facilitate all its supported creators’ growth.

JUST NFT Fund will serve as a bridge between artists and blockchain. As per additional details offered in the open letter about the JUST NFT Fund’s functional dynamics, it will sign on only artists whose art pieces possess a price tag of $1 million and a median value of $10 million. The Tron Foundation elucidated that it would run on the belief that art is also subject to the Pareto Principle, or the 80-20 rule. It says that the value of the artists resting at the tippy-top of the pyramid can withstand the test of time.

JUST NFT Fund intends to be the ARK Funds in the NFT Space

Furthermore, JUST NFT Fund’s core members involve conventional art brands like Christie’s and Sotheby’s. It also consists of the ones who are proactive in the NFT industry. Members of the JUST NFT teams all have comprehensive knowledge in both conventional and digital art space. Their attempts at the fund to source NFT artists globally will help the JUST NFT fund grow in the crypto art sector. It endeavors to be the ARK Funds in the NFT space to join world-class artworks as NFTs on the blockchain. 

Moreover, Justin Sun has been a notable fan of NFTs. He missed a bid for Beeple’s Everydays: The First 5000 Days to MetaKovan. However, he later placed the winning bid for one of Beeple’s artworks named “The Ocean Front”. The art, which has a climate change theme, sold for $6 million, and the profits will be going to charity. The Ocean Front will be the flagship NFT for the JUST NFT Fund. The mapping will be 1:1 to the Tron Network. Moreover, it will become JUST NFT’s first NFT work.

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