- The opportunity to pay a quarter of a million dollars for an annual visit to a 2,000 pound, 14.5″ tungsten cube was too much to resist for crypto traders, it seems.
- The sudden popularity of solid tungsten cubes saw Midwest Tungsten Service’s sales surge by 300% in October, so they now offer smaller cubes in sizes ranging from a 1cm cube for $20 to a $3,000 10cm version.
- Perhaps the tungsten cube phenomenon is a solution to the intangibility of cryptocurrency that can provide “cryptophiles” something real to touch?
Anthony Cuthbertson from The Independent writes:
“The opportunity to pay an annual visit to a 14-inch (36cm) cube of tungsten has sold for a quarter of a million dollars, after the intensely dense objects became a meme among crypto traders.
Despite its relatively small size, the block weighs 1 ton (907kg) due to the density of the metal, meaning it is difficult to transport.
As a result, and in keeping with the crypto craze, the tungsten cube was sold as an NFT (non-fungible token) – meaning proof of ownership is stored digitally on the Ethereum blockchain.
Owners of the NFT will be able to pay an annual supervised visit to the physical cube, which is stored at the headquarters of Midwest Tungsten Service in Willowbrook, Illinois.
The NFT’s description on the OpenSea marketplace states: “One visit to see/ photograph/ touch the cube per calendar year will be allowed and scheduled with a Midwest Tungsten Service representative…”
See full story here.
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