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Friday, December 1, 2023

The hunt for tungsten cubes is the latest crypto world

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The enthusiasm for heavy metal has led to the creation of an unprecedented NFT. Buying tungsten cube is a new trend coming from the United States. To be precise, from the universe of cryptocurrencies, with fans of the sector who are stocking up on the mineral, suddenly a highly sought-after decorative object for your desk.

A false rumor spread online about the shortage of supplies, a long series of memes conceived and circulated in a short time in the circle of crypto-influencers and the consequent speculative operation towards collectibles, have pushed up the shares of tungsten. Which stands out for its heaviness in relation to its small size and, according to those who have experienced the thrill, for the pleasant and surprising tactile sensation that the small cube gives when it is held in the palm of the hand. To get an idea, it is useful to know that a block of 10 centimeters per side weighs 18.5 kg.

Almost for fun, online word of mouth has favored the surge in sales of cubes, which have rewarded various US companies, above all the Midwest Tungsten Service , a company based in Illinois that offers cubes with sides from 1 to 10 centimeters ( for which you need, in order, from 40 to 3,000 dollars ). “I like the atomic properties of tungsten, the density and the hardness ,” explained to GQ Nick Carter, who works for an investment company linked to the blockchain but who is an early lover of tungsten, so much so that he shows off a collection of level after starting shopping four years ago.

The popularity of tungsten cubes

The unexpected popularity of cubes among cryptocurrency enthusiasts, for him, is due precisely to the ‘ physicality ‘ of the metal. “We are immersed in an immaterial virtual world, which is based on synthetic raw materials and NFTs, which have a financial value but remain ethereal entities. This is why they like to go back to getting their hands on something concrete “. To trigger a race for the new (provisional) gold, however, something else is needed, for example “a very large digital community that moves together and where news spreads very quickly “, as Dan Matuszewski, partner of CMS rightly indicates. Holdings, an investment company dedicated to projects in the crypto world, as well as one of the architects of the bubble and one of the most avid collectors.

But now the stocks in the warehouses of the companies are running out : “We have always believed that the best advertising to sell tungsten was to let people see and touch them, who are amazed by the experience”, says Sean Murray, a long-time employee of the company. Midwest Tungest Service.

The New Fashion

On the wave of the new fashion, therefore, the company has gone virtual, creating an NFT obtained from the 3d model of a tungsten cube of 35 centimeters per side , for a weight of over 900 kg , auctioned on OpenSea with a price base of 47.74 Ethereum, equivalent to approximately $ 200,000 . The huge block exists, but for now it is the exclusive property of the company. Whoever wins the tender will get the ownership rights on the virtual cube. Midwest Tungsten Service has pledged to create a special room to house it: “We will design it appropriately for the magnificence of the cube.” The owner will be able to access it, he only with a company employee, only once a year to touch and photograph it. Overall, therefore, it seems to be facing a trend that has little or nothing of logic, even if someone earns it and many have fun. Or so it seems.

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