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For some reason, cubes made out of the element Tungsten is the current craze among crypto folks. So popular as of late that a group of digital currency traders recently splurged an insane sum of cash just to visit the metal cube annually.
250 grand for a Tungsten cube NFT
Yes, you read it right. Some fellas (TungstenDAO) did pay a huge sum of money amounting to $250,000 just to have the rights to visit the tungsten cube from where it’s at on a yearly basis.
Reports stated that the metal cube is around 14-inches (36 centimeters) and has a weight of a ton (907 kilograms). That said, due to it being so dense, it would be a Herculean task to move it from place to place.
This prompted the folks over at the Midwest Tungsten Service to sell their heavy metal cube as a nonfungible token (NFT) and to cater to that weird interest of some individuals. Also, this translates that there’s now proof of ownership that is kept digitally within the realm of the Ethereum blockchain.
As mentioned, proud owners of the cube can pay an annual (and supervised) visit to the real-world tungsten cube that is being kept within the confines of the Midwest Tungsten Service located in the village of Willowbrook in the state of Illinois.
OpenSea listing
Interested? It’s currently posted over on the NFT marketplace of OpenSea as part of its description stating that the subsequent owners of the NFT will not be allowed to visit the cube in a year in which the tungsten cube has already been visited. Further, the physical version of the cube cannot be viewed until 12 weeks after the first sale.
It went on to state that burning of the said nonfungible token would result in a shipment to its most recent owner through a freight truck. This would also prompt the owner in giving Midwest Tungsten Service the intent to burn.
As for the tungsten cube makers, their sales skyrocketed by a whopping 300 percent back in October. Moreover, a huge chunk of Midwest Tungsten Service’s market came from industrial clients, though the tungsten cube hype pushed the firm to roll out metal cubes in various sizes ranging from 1 centimeter priced at $20 to 10 centimeters alongside a price tag of $3,000.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
