How to make text automatically change after a certain time?

I'm using Google Spreadsheets

So I'm trying to create a sheet that has text automatically changing after a certain time.

Example:

As you can see in this picture, I have 3 items and the current text in the box is Item 1. But I want to be able to have that text switch to one of the other items without having to manually type in the box.

1 Minute Later...

After 1 minute, it becomes item 2. Then I want to do the same with the rest of the items I will be adding on the sheet.

So how do I go about this? Is there some kind of formula I can use or will I have to go into a more advanced script kind of thing? I am pretty new to the formulas, so please explain it to me like I'm a 5 Year old.

All help is appreciated even if it's the smallest of solutions!