It measures 14.545 inches in diameter, weighs approximately 907kg (or 2,000lbs), was just sold to anonymous crypto investors for $250,000 It is the largest tungsten cube ever manufactured by Midwest Tungsten Service in Willowbrook, Illinois.
Are you confused? It's all understandable. Consider this though: The tungsten cubes are a popular meme in cryptocurrency, a world where attention is as important as tangible value. It's also known as the "stonk market". If you don't know what tungsten is, it's a metal that is 1.7 times more dense than lead. Since 2015, nerdy people have been able buy small cubes made by the Midwest Tungsten Service. Although owning one was a joke on Reddit for many years, it has become a popular choice among crypto enthusiasts in recent months.
Some argue that the density of tungsten is in contrast to the immateriality and immateriality of crypto
It is not clear why this happened. Some believe that the cube's density makes it a pleasant contrast to the immaterial nature NFTs and cryptocurrency. Some say the pleasure of holding these objects is its reward. I can personally attest to this. One time, I had the privilege of holding a kilogram of an iridium alloy. It is much denser than tungsten and was quite a cool experience. The easiest and most convincing answer is that purchasing tungsten cubes can be a solid, good idea.
Midwest Tungsten Service was prompted by the recent interest in tungsten spheres to ask themselves a crucial question: What is the largest tungsten cube that they can make? The 14.545-inch cube resulted from this question. They also had access to the cube via NFT.
The company stated this in a blog post last month announcing the new project:
The 14.545 cube will be made and will weigh approximately 2,000 pounds. This NFT is a physical cube made from real materials. It will be kept at Midwest Tungsten Service headquarters, and owned by the NFT owner. A representative from Midwest Tungsten Service will schedule one visit to the cube to photograph/touch it each calendar year. For scheduling, access to the cube is restricted and proof of ownership must be provided. The cube will be kept in its own room, which will only be accessible by the NFT owner. The cube cannot be accessed by any other NFT owners after the first year. The cube won't be accessible until 12 weeks following the sale. The NFT will be shipped to the last owner via freight truck. Owners will need to notify Midwest Tungsten Service about the intent to burn the NFT and arrange transportation after freight drop-off.
NFT is now being sold to TungstenDAO. The sale can be seen here on OpenSea. Motherboard spotted the sale going through on Monday for 56.9ETH, or approximately $250,000.
TungstenDAO's plans for the purchase are not clear. We have reached out to them for clarification and will update this story as soon as we hear back. They bought the NFT to draw more attention to themselves, which is fitting.
The cubes sellers call themselves an experimental me incubation lab
A DAO, or decentralized autonomous organisation, is a type co-operative organization whose rules and regulations are supposedly enshrined on the blockchain. DAOs can be investment vehicles of any kind, but for TungstenDAO, memes are their favorite asset. The group is described as an experimental meme incubator studio. Its goal is to build a portfolio of memeable assets, then create content that reinforces the social significance of these assets and encourages memetic desire for them. Memes drive attention and attention assigns value. Why not buy memes instead of the middleman? This meme, which is 14 inches in diameter, reinforces this point.
Will the cube retain its value? TungstenDAO will become the first billion-dollar meme studio. It's hard to know. However, there are rumors in crypto that cubes might have been abandoned and that the new hot property is the tungstensphere. Still confused? Don't be afraid to try it.
