In Brief:
- German artist Niclas Castello installed a gold cube in New York’s Central Park to promote his own $CAST coin.
- Swiss blockchain company DSENT AG developed $CAST and each coin is priced at $0.45.
- Castello also plans to launch NFTs which will go live on February 21st.
The iconic Central Park in New York City had a new visitor in the form of a 410 pounds(186 kg) solid gold cube surrounded by security guards, sending everyone into a frenzy.
Designed by German artist Niclas Castello, the cube is made from 24-karat gold purchased at $1,788 per ounce. The gold cube is worth $11.7M and is not up for sale.
The artwork was created in a highly complex process that took approximately 4500 hours at the legendary Art Foundry H. Rüetschi in Aarau (Switzerland).
According to an Artnet report, the gold cube installation event which lasted about a day was just for promoting and creating a big hype for Niclas Castello’s cryptocurrency titled ‘Castello coin’ ($CAST).
DSENT AG, a Swiss blockchain company, created $CAST and artist Castello sees the coin as “digital gold.”
The coins are priced at $0.45 each. However, residents of the United States are not permitted to purchase it yet and investors must spend a minimum of $1,144 to gain access.
“The Coin acts as a bridge between the traditional financial world of finance, the world of traditional forms of investment and traditional art, and the new world, the world of cryptocurrencies and the digital age,” $CAST’s official website reads.
Castello also intends to launch a related NFT which will go live on February 21st, though he hasn’t revealed any further details about the sale.
A lot of crypto platforms promote their coins by advertising them through the big names in various sectors so this gold cube installation method is a really unique and eye-catching way to get the attention of people. Recently Tezos blockchain partnered with the popular football club Manchester United on a $27M sponsorship deal where the platform’s logo will be featured on the club’s training kit.
