Luxury and specialty jewelry retailer Tiffany & Co. announced that the company plans to sell 250 non-fungible passes called “Nftiff.” Essentially, Cryptopunk holders will be able to acquire one of 250 Nftiffs for 30 Ether or around $50,000 using current Ethereum exchange rates.
Tiffany & Co. Reveals Limited Edition Jeweled Cryptopunk Pendants Backed by 250 Non-Fungible Tokens
30ETH was trending on Twitter on Sunday afternoon after luxury jewelry company Tiffany & Co. (NYSE: TIF) announcement: “The future is here and it’s called Nftiff.” Essentially, Nftiff is a new Tiffany product that aims to combine the beauty of digital collectibles and luxury jewelry. From the company blog post about limited edition Nftiff products, the goods represent a collection of 250 digital passes.
However, Tiffany’s Nftiffs can only be purchased by Cryptopunks NFT holders and a customer is limited to purchasing three Nftiffs. Buyers will receive a custom designed pendant and NFT that looks like the jewelry. Each Tiffany’s Nftiff will sell for 30 ethereum (ETH) on August 5, 2022, 10:00 a.m. (EST), and at the time of writing, 30 ETH is around $50,481. Buyers will receive the NFT, pendant and shipment after paying for the Tiffany brand NFTs.
“Tiffany & Co. designers will interpret each Cryptopunk into custom designed pendants – converting the 87 attributes and 159 colors that appear in the collection of 10,000 Cryptopunk NFTs into the most similar gemstone or enamel color,” details the company’s blog. The luxury jewelry company added:
According to Cryptopunk owners who buy pendants, each piece will use at least 30 gemstones and/or diamonds to create custom designs with the highest fidelity to the original NFT art. Examples of gemstones include, but are not limited to, sapphires, amethyst, and spinel.
Tiffany’s Digital Collectibles Announcement and 30 Ether Price by NFT Sparks Social Media Conversations
Tiffany’s Nftiffs have been the subject of topical conversation on Twitter, with many people commenting on their price. “Tiffany’s releases 250 NFTs for 30 ETH each = $11 million. In this market”, an individual wrote. “My desire to set up a Web3 strategy consulting firm is growing every day,” adds the interested party. A person who said he put top notch NFTs on jewelry before Tiffany had the idea, tweeted about Tiffany’s upcoming NFT launch. Nftjeweler.eth said:
When I put Cryptopunks on jewelry, everyone laughed at me. Now [Tiffany’s] is about to drop 250 punk channels and sell for 30 ETH each.
Tiffany’s says people should make sure they interact with official Nftiffs Contract and the firm points out that nft.tiffany.com is the only site that will sell Tiffany’s Nftiffs. Tiffany’s collaborated with cloud infrastructure company Web3 and blockchain Chain and nft.tiffany.com just offers a countdown timer and a link to the FAQ page.
What do you think of the next Tiffany & Co. Nftiffs? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Editorial credit: Claudio Stocco / Shutterstock.com, Nftjeweler.eth via Twitter, Tiffany & Co.
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