<\/p>\n
Luxury jewelry brand Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk non-fungible token (NFT) holders.\u00a0<\/p>\n
The handcrafted CryptoPunk pendants were announced by the jewelry brand on July 31 on Twitter, and are priced at 30 ETH, equivalent to $50,600 each at the time of writing. <\/p>\n
\nWe\u2019re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You\u2019ll also receive an additional NFT version of the pendant. Learn more: https:\/\/t.co\/FJwCAxw8TN #NFTiff<\/a> #TiffanyAndCo<\/a> pic.twitter.com\/pyKlWejHv4<\/a><\/p>\n
\u2014 Tiffany & Co. (@TiffanyAndCo) July 31, 2022<\/a><\/p><\/blockquote>\n
According to an NFTiffs Frequently-Asked Questions page, the NFTiff token sale is set to launch on August 5 at 9 am (CST), and will only be available for purchase NFTiff tokens via its website.<\/p>\n
Each CryptoPunk is limited to a maximum of three NFTiff tokens that allow them to mint a customized pendant. There are 87 different attributes and 159 colors that can be used to custom design the pendants, and the pendant itself will be composed of 18-Karat rose or yellow gold (based on the color palette of the NFT).\u00a0<\/p>\n
Should all the limited edition pendants sell out, Tiffany & Co stands to make 7,500 in ETH (currently $12.7 million).<\/p>\n
The campaign was first promoted by Tiffany & Co vice president Alexandre Arnault, who owns CryptoPunk #3167 in April. In a tweet<\/a>, Arnault revealed his new rose gold and enamel CryptoPunk, which was transformed with a new sapphire and Mozambique-colored set of glasses and a yellow diamond round earring. <\/p>\n
\nWhen punks go wild at @TiffanyAndCo<\/a> <\/p>\n
#3167<\/p>\n
Rose gold and enamel Cryptopunk. <\/p>\n
Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring. <\/p>\n
LFG! pic.twitter.com\/M2c8AmwU0R<\/a><\/p>\n
\u2014 Alexandre Arnault (@alexarnault) April 7, 2022<\/a><\/p><\/blockquote>\n
Community reacts<\/h3>\n
The crypto community on Twitter appears largely excited about the new NFT offering from the luxury jewelry brand. <\/p>\n
Twitter user markfidelman, CMO of SmartBlocks Agency, called the NFT project an \u201cincredibly tasteful activation,\u201d adding: <\/p>\n
\u201cMore Web2 firms looking to dip their toes in Web3 need to be learning from the quality of this $NFTiff offering and taking notes.\u201d<\/p><\/blockquote>\n
\nThis is actually a really excellent way to enter the NFT space. Very much “on brand” <\/p>\n
Lots of people hate Tiffany’s and think they’re overpriced (they kinda are, you’re paying for the brand and packaging).<\/p>\n
But there’s clearly a market for them — and this suits that market <\/p>\n
\u2014 Zeneca_33 (,) (@Zeneca_33) July 31, 2022<\/a><\/p><\/blockquote>\n
The jewelry company first ventured into NFTs in March, when they purchased an Okapi<\/a> NFT from contemporary artist Tom Sachs for $380,000. Tiffany & Co have since set the rocket-styled NFT as their profile picture on Twitter. <\/p>\n