Thursday, May 19, 2022

A pure gold cube worth $11.7M is now sitting in Central Park, NYC

A cube made from 186 kilograms of pure 24-karat gold was constructed and dropped in the middle of the park.

German artist Niclas Castello designed the cube, and although the artwork is not for sale, it’s valued at about $11.7 million.

“[The work] is a conceptual work of art in all its facets.” He said the idea was to “create something that is beyond our world — that is intangible,” Castello told ArtNews in a statement.

A cryptocurrency is also being released alongside the cube, called the Castello Coin. It will be traded as $CAST and is now able to be purchased online at $0.44 each. An NFT auction is also scheduled for Feb. 21.

Gallerist Lisa Kandlhofer noted to the art publication that “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.” Read more »