Crypto fans on Twitter are buying so many Tungsten cubes that it has caused a shortage of the metal at a manufacturer in Illinois. With the strange new obsession going viral, many people are wondering why they should care about an ordinary metal cube.
According to crypto Twitter, there is nothing like the experience of holding a Tungsten cube. The metal, which is denser than lead and is used to reinforce metal structures, has people getting a euphoric feeling when they hold it.
Torkel Rogstad, a software engineer for Arcane Crypto described it like this. He said, “Holding a tungsten cube is truly indescribable, with its massive presence immediately felt upon picking it up. It gives you a sense of awe, immediately thinking, ‘I will utterly destroy whatever this falls on if I drop it.’”
Rogstad said that he bought his own cube after seeing it come up on his social media feed. The software engineer admitted that he didn’t want to have FOMO (Fear of Missing Out) if he didn’t jump on the Tungsten bandwagon before it went viral.
One group that is extremely happy about the tungsten cube craze is the Midwest Tungsten Service. Because of the above tweet by Coin Center’s Neeraj Agrawal, the company has seen a boom in sales. Agrawal tweeted this fake Bloomberg article a month ago and it has caused the crypto world to go crazy.
The company, which is based in Illinois, typically sells tungsten sheets and wires. And while they also sell the cube for a desktop decoration they have never seen a demand for their product before.
According to the director of e-commerce, Sean Murray, the company has seen a 300% increase in sales of the cube and their Amazon inventory has been picked clean.
“We’ve had to add extra staff and arrive a bit earlier at times to handle the huge increase in demand while trying to maintain a high level of customer service,” Murray said. “At times that has meant diving (not literally) into piles of boxes looking for the one that was canceled a few minutes before a carrier’s pickup window.”
The company, which sells cubes in a variety of weights, from 0.64 ounces to 41.6 pounds, recently created their biggest Tungsten cube yet. The cube, which clocks in at a whapping 2,000 pounds and is housed in a special warehouse, was auctioned off by the company.
The cube was sold as an NFT (non-fungible token) and purchasing this product would allow the owner one supervised visit to the cube every year and they would be allowed to touch it. An NFT is an Internet token which allows a person online ownership of an item, such as a video, piece of art, or in this case, a giant Tungsten cube.
According to the description, there are some rules when it comes to ownership. “One visit to see/photograph/touch the cube per calendar year will be allowed and scheduled with a Midwest Tungsten Service representative,” the NFT listing reads. “Subsequent owners of the NFT cannot visit the cube in a year in which the cube has already been visited. The cube will not be available to view until 10 weeks after the first sale.”
This special NFT was just bought by Tungsten DAO, which is a decentralized organization created by NFT collector Vincent Van Dough. He bought the cube for $250,000. A DAO is an organization based on the Internet and not controlled by any government.
While many people weren’t able to buy the really big cube, that hasn’t stopped them from buying their own smaller Tungsten cubes. This cult-like obsession has many people asking if the “crypto bros,” are OK.
Murray believes that he understands why so many people are buying these special cubes. He said, “I would say they’re dealing in digital virtual currencies and tokens and it feels (for them) a grounding in the physical world to have a tungsten cube and it’s the opposite in a way from other stuff.”
Do you have your own Tungsten cube? Tell us why in the comments section below!