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NASA announced that it is on the cusp of sending a spacecraft to study the asteroid 16 Psyche, which is believed to be worth a staggering $10 quintillion in precious metals.
The space agency, in collaboration with Elon Musk's SpaceX, aims to unlock the secrets of planetary cores and the formation of planets.
The project faced a crucial setback in its original 2022 launch date due to a flight software issue. However, NASA's Jet Propulsion Lab confirmed that it has recently completed a comprehensive test of the flight software, successfully installing it on the spacecraft. This cleared the way for the upcoming launch.
Named after the Greek goddess of the soul, 16 Psyche is an asteroid spanning an impressive 173 miles in width. Scientists believe it is primarily composed of gold, iron, and nickel, with its ore estimated to be worth a mind-boggling $10 quintillion.
Thanks to the provisions of the 2015 US Commercial Space Launch Competitiveness Act, companies have the legal right to mine materials from celestial bodies, and firms are already developing technology for this purpose.
The asteroid belt housing 16 Psyche is a treasure trove of ore-rich asteroids, collectively valued at an astounding $700 quintillion. Among them, Davida stands out as the most valuable, believed to be worth an astronomical $27 quintillion.