Nftnews Today Tiffany & Co turning CryptoPunk NFTs into $50K custom pendants

Luxurious 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. Unique to CryptoPunks holders, NFTiff transforms your NFT right into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll additionally obtain an extra NFT model of the pendant. Be taught extra: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4

— Tiffany & Co. (@TiffanyAndCo) July 31, 2022

In line with an NFTiffs Often-Requested Questions web page, the NFTiff token sale is ready to launch on August 5 at 9 am (CST), and can solely be out there for buy NFTiff tokens through its web site.

Every CryptoPunk is restricted 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 customized design the pendants, and the pendant itself will probably be composed of 18-Karat rose or yellow gold (based mostly on the colour palette of the NFT). 

Ought to 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 vice chairman Alexandre Arnault, who owns CryptoPunk #3167 in April. In a tweet, Arnault revealed his new rose gold and enamel CryptoPunk, which was reworked 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

Group reacts

The crypto neighborhood on Twitter seems largely excited concerning the new NFT providing from the luxurious jewellery model.

Twitter consumer markfidelman, CMO of SmartBlocks Company, referred to as the NFT undertaking an “extremely tasteful activation,” including:

“Extra Web2 companies trying to dip their toes in Web3 have to be studying from the standard of this $NFTiff providing and taking notes.”

That is truly a very glorious strategy to enter the NFT area. Very a lot “on model”

Numerous individuals hate Tiffany’s and assume they’re overpriced (they kinda are, you are paying for the model and packaging).

However 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 modern 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 emblem individually engraved on every coin.

Associated: Gucci the newest luxurious model to just accept crypto funds in retailer

Luxurious manufacturers are not any strangers to the crypto area, with many starting to just accept crypto as cost, such Gucci, Balenciaga, and FARFETCH.

Final 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 buyers can authenticate items, monitor merchandise and supplies, and in addition combat counterfeits.