Mystery: Gold cube worth $11.7 million ‘pops up’ in NYC’s Central Park—with security guards

February 7, 2022

A mysterious gold cube worth an estimated $11.7 million appeared in New York’s Central Park on Wednesday morning, February 2. accompanied by its very own security detail, reports The Sun.

The cube, which comprises about 400 pounds of pure 24-karat gold, was rolled out in front of a snowy Naumburg Bandshell at 5 a.m. (ET)—surrounded by photographers and NYPD officers.

The hollow gold block is the creation of 43-year-old German artist Niclas Castello, who has branded it the “Castello Cube.”  It’s not for sale, but is being used to promote the launch of a cryptocurrency called the Castello Coin. With gold currently priced at $1,788 per ounce, the block would probably go for $11.7 million, if it were put on the market.Castello’s team told ArtNet that the cube was made in a foundry in Aarau, Switzerland—and that it required temperatures of more than 2,000 degrees (F) to be cast.

The cube had been advertised as a once-in-a-lifetime work. Some viewers were unimpressed, however. “It’s pretty plain,” private security guard, Jamel Rabel, told The New York Times.

Another looked admitted that the “reflections are incredible and that “putting it there in the snow seems really inspired.”

Catello’s Cube stayed in the famous tourist spot for only a few hours before being shipped downtown to the exclusive Cipriani Wall Street for a private dinner.

Castello billed the block as a “socle du monde” (base of the world) sculpture. He told ArtNet that it is “a conceptual work of art in all its facets” and that he’d wanted to “create something that is beyond our world—that is intangible.”

“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,” Viennese gallerist Lisa Kandlhofer commented to ArtNet.

The Castello Coin is being traded as $CAST at an initial price of $0.44. The artist’s team told the Times that he had privately sold enough of the coins to finance the cube project.

On February 21, the coin launch will be followed up with an NFT auction.

Research contact: @TheSun