A one-ton tungsten cube was just bought by a crypto cabal for $250,000
The largest tungsten cube made by Midwest Tungsten Service from Willowbrook, Illinois, measures 14.545 inches across, weighs one ton (about 907 kg or 2,000 pounds) and has already been sold to a narrow circle of crypto investors for more than 250 thousand dollars.
And all because tungsten cubes are quite a popular meme from the world of cryptocurrencies, and everyone knows how important publicity is. Tungsten is a metal 1.7 times denser than lead. Since 2015, such cubes could be purchased, they are manufactured by companies such as Midwest Tungsten Service. Owning such a cube is fashionable in the world of crypto owners and is one of the topics for discussion on various resources.
There is no clear answer why cubes have gained popularity. Some people like that their density contrasts interestingly with the intangible nature of cryptocurrencies and NFT. Others think that the possession of cubes is regarded as a reward. But the most significant argument is the purchase of tungsten cubes is a cool meme.
Midwest Tungsten Service employees decided to create the largest cube possible and so a 14.545-inch cube was born, eventually sold through NFT.
The company ‘s announcement reads as follows:
A cube measuring 14.545 inches and weighing approximately 2,000 pounds will be created. This NFT is a real physical cube that will be stored at the Midwest Tungsten Service headquarters and owned by the owner of the NFT. One visit to view/photograph/touch the cube in a calendar year will be allowed and scheduled by a representative of the Midwest Wolfram Service. Unlockable content required for planning, and proof of ownership required for entry. The cube will be stored in a separate room, which will be closed and accessible only to the owner of the NFT.
Subsequent NFT owners cannot visit the cube during the year when the cube has already been visited. The cube will be available for viewing only 12 weeks after the first sale. Burning NFT will send the truck to its last owner, the owner will be responsible for notifying Midwest Tungsten of the intention to burn and transport it after dispatch.
The sale of NFT was carried out to the TungstenDAO group, sold on OpenSea on Monday for 56.9 ETH or approximately $ 250,000. How the owner plans to dispose of his purchase is not yet clear, but most likely they did it to attract attention.
A “DAO” or “Decentralized Autonomous Organization” is a type of cooperative organization whose principles are supposedly enshrined in the blockchain. DAOs are usually investment instruments of one type or another, and memes are their preferred resource for TungstenDAO. The group describes itself as an “experimental meme incubation studio” and states that its goal is “to collect a collection of meme-forming resources, and then create content that adds social value to them and enhances the memetic desires of these resources.” It is quite a logical position to attract attention through a meme, this time the meme is a physical cube.
Will the cube be valued further or will a tungsten sphere take its place? Will TungstenDAO become a multi-billionaire? There are enough rumors and myths around this. We can only observe.