Cryptocurrency: Artist Drops $11M 410lb Gold Cube Coin

grarpamp grarpamp at gmail.com
Sat Feb 5 08:06:07 PST 2022


At the current price of $0.44, dilution of value occurs
if there will ever be more than 26967563 (27M) coins.


An Artist Dropped An $11.7 Million, 410lb Gold Cube In Central Park
For A Day This Week

https://news.artnet.com/art-world/solid-gold-cube-central-park-2067281

For one day and one day only, an $11.7 million gold cube sat in the
middle of Central Park, protected by its own security detail.

The cube, called The Castello Cube, was the brainchild of German
artist Niclas Castello, according to Artnet. It was made of 24-carat,
999.9 gold and weighed in at 410 pounds. Castello "is known largely
for his sculptures and paintings partly inspired by artists like
Jean-Michel Basquiat and Andy Warhol," Artnet wrote.

It placed in Central Park for only one day this week, Wednesday.

Castello told Arnet it was “a conceptual work of art in all its
facets” and that he sought to “create something that is beyond our
world—that is intangible.”

And what would art be nowadays without tying it to a cryptocurrency?
That's exactly what Castello did, launching The Castello Coin
alongside his physical artwork. The coin is available for purchase at
an initial price of €0.39 ($0.44), the report says. There will also be
an NFT auction later in February.

Viennese gallerist Lisa Kandlhofer told Artnet: “The cube can be seen
as a sort of communiqué between an emerging 21st-century cultural
ecosystem based on crypto and the ancient world where gold reigned
supreme.”

The art was custom cast at a foundry in Aarau, Switzerland and needed
a custom kiln due to its size and the temperatures needed to melt it.

After leaving Central Park, the cube made its way to a "private dinner
on Wall Street", the report says.


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