Did a Destroyed Diamond NFT Just Prove Its Own Value?

Back in 2021, macroeconomist Tascha Che decided to test a bold theory. She bought a physical diamond, turned it into an NFT, and then had the stone drilled to pieces. Her goal was to see if the digital token could retain value even after the physical asset was obliterated. Critics dismissed the stunt as a bizarre publicity grab at the height of the NFT craze.

Fast forward to October 2025, and the results are turning heads. The NFT, which sold for 5.5 ETH in 2021, recently changed hands for 11 ETH. At the time of the sale, that amounted to 43,000 dollars. This represents a massive gain, especially considering that the price of natural diamonds has dropped significantly due to the rise of synthetic alternatives.

While the NFT is now worth far more than the original stone, it does not confirm Che's original hypothesis about asset preservation. The gap between the sinking value of physical diamonds and the soaring price of this specific token suggests that the NFT gained value as a unique internet artifact rather than as a store of value for a real world commodity.

Ultimately, the experiment highlights how viral status and scarcity often dictate price in the digital market. While the NFT proved that tokens can outlive their physical counterparts, investors should note that its success is likely due to its story rather than any inherent link to the underlying diamond market.