Luxury jewellery model Tiffany & Co has introduced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk non-fungible token (NFT) holders.
The handcrafted CryptoPunk pendants have been introduced by the jewellery model on July 31 on Twitter, and are priced at 30 ETH, equal to $50,600 every on the time of writing.
We’re taking NFTs to the subsequent degree. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll additionally obtain a further NFT model of the pendant. Learn extra: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4
— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
According to an NFTiffs Frequently-Asked Questions web page, the NFTiff token sale is about to launch on August 5 at 9 am (CST), and can solely be accessible for buy NFTiff tokens by way of its web site.
Each CryptoPunk is proscribed to a most of three NFTiff tokens that enable them to mint a custom-made pendant. There are 87 totally different attributes and 159 colours that can be utilized to custom design the pendants, and the pendant itself will likely be composed of 18-Karat rose or yellow gold (primarily based on the colour palette of the NFT).
Should all of the restricted version pendants promote out, Tiffany & Co stands to make 7,500 in ETH (at present $12.7 million).
The marketing campaign was first promoted by Tiffany & Co vp Alexandre Arnault, who owns CryptoPunk #3167 in April. In a tweet, Arnault revealed his new rose gold and enamel CryptoPunk, which was remodeled with a brand new sapphire and Mozambique-colored set of glasses and a yellow diamond spherical earring.
When punks go wild at @TiffanyAndCo
#3167
Rose gold and enamel Cryptopunk.
Sapphire and Mozambique baguette Ruby glasses, yellow diamond spherical earring.
LFG! pic.twitter.com/M2c8AmwU0R
— Alexandre Arnault (@alexarnault) April 7, 2022
Community reacts
The crypto neighborhood on Twitter seems largely excited concerning the new NFT providing from the posh jewellery model.
Twitter person markfidelman, CMO of SmartBlocks Agency, referred to as the NFT venture an “incredibly tasteful activation,” including:
“More Web2 firms looking to dip their toes in Web3 need to be learning from the quality of this $NFTiff offering and taking notes.”
This is definitely a very glorious approach to enter the NFT area. Very a lot “on brand”
Lots of individuals hate Tiffany’s and suppose they’re overpriced (they kinda are, you are paying for the model and packaging).
But there’s clearly a marketplace for them — and this fits that market
— Zeneca_33 (,) (@Zeneca_33) July 31, 2022
The jewellery firm first ventured into NFTs in March, once they bought an Okapi NFT from up to date artist Tom Sachs for $380,000. Tiffany & Co have since set the rocket-styled NFT as their profile image on Twitter.
On April Fools’ Day (April 1), Tiffany & Co additionally produced “TiffCoins”, a limited-release of 400 18-Karat gold cash with the corporate brand individually engraved on every coin.
Related: Gucci the newest luxurious model to just accept crypto funds in retailer
Luxury manufacturers aren’t any strangers to the crypto area, with many starting to just accept crypto as fee, such Gucci, Balenciaga, and FARFETCH.
Last April, Louis Vuitton (LVMH), Cartier, and Prada joined forces to launch Aura, a consortium-blockchain that can make the most of NFTs in order that high-end consumers can authenticate items, observe merchandise and supplies, and likewise struggle counterfeits.
