I have been able to show that
$d(x,y) \geq 0 $
If $d(x,y) = 0$ , then $x=y$
$d(x,y)=d(y,x)$
For the fourth property,
Let $z \in X$, then $d(x,y) = |x-y|^3 =|x-z+z-y|^3$
(by triangle inequality)
$\leq (|x-z| + |z-y|)^3$ $= |x-z|^3 + |z-y|^3 + 3|x-z||z-y|(|x-z|+|z-y|)$
After this, since the given expression can't always be $\leq|x-z|^3 + |z-y|^3$, d is not a metric. To justify I have to take one example but which??