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Luxury Brand Tiffany & Co Sells NFT CryptoPunks Pendants

Luxury Brand Tiffany & Co Sells NFT CryptoPunks Pendants

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It seems even luxury jewelry brands are jumping on the NFT bandwagon.

Tiffany & Co., an American luxury jewelry retailer founded by Charles Lewis Tiffany in 1837, is are launching their first NFT collection exclusively for CryptoPunks holders called NFTiff.

According to a tweet shared by the official Tiffany & Co. account on July 31, after purchase, NFT owners will also receive an exclusive Tiffany & Co pendant designed with a proprietary non-repair mark.

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NFTiffs will be released on the 5th. August 9 at 9 a.m. (CST) on their official website.

The company will sell only 250 digital passports for 30 ETH each, which works out to about $51,000 at the time of writing.

According to the NFTiff FAQwhen a person buys a digital passport, Tiffany & Co.’s team of artists designs the pendant.

Designers try to reproduce every attribute and color seen in NFT the most similar gemstone or enamel color.

The company claims that depending on the CryptoPunks NFT, the pendant contains “at least 30 gems and/or diamonds to create custom designs as closely as possible to the original NFT art.” Tiffany & Co emphasizes that the pendant may contain sapphire, amethyst, spinel or other materials and they are made 18 carat rose or yellow golddepending on the colors of the NFT.

The public has already had a glimpse of the collection in April. The first pendant was created for Alexandre Arnault, Vice President of Tiffany & Co. The vice president took to Twitter to share his interpretation of the rose gold and enamel pendant he owns, CryptoPunk #3167.

The company first ventured into NFTs in March when they used Twitter inform by purchasing “Okapi” from artist Tom Sachs. The company paid $380,000 for this NFT and has been using it as their Twitter profile picture ever since.

Additionally, on April 1, Tiffany & Co exempt 18 karat gold coins called TiffCoins. The company logo was engraved on the 400 limited edition coins.

Gile K. - cryptanalyst

by Gile K. – Crypto Analyst, BitDegree


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