Tiffany & Co Launches CryptoPunks Pendants Worth $50K Each

Tiffany & Co Launches CryptoPunks Pendants Worth $50K Each

It seems that even luxury jewelry brands are hopping onto the NFT train. 

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

According to the tweet shared on July 31st by the official Tiffany & Co account, after making a purchase, NFT owners will also receive an exclusive Tiffany & Co pendant designed according to the owned non-fungible token

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The NFTiffs are launching on August 5th at 9 am (CST) on their official website

The company will be selling only 250 digital passes for the price of 30 ETH each, which makes around $51,000 at the time of writing. 

According to the NFTiff FAQ, when the person buys the digital pass, the team of artists in Tiffany & Co will design the pendant

The designers will attempt to replicate each attribute and color that appears on the NFT to the most similar gemstone or enamel color

The company claims that depending on the CryptoPunks NFT, the pendant will contain “at least 30 gemstones and/or diamonds to create the custom designs with the highest fidelity to the original NFT art”. Tiffany & Co highlights that the pendant can contain Sapphire, Amethyst, Spinel, or other materials and will be made out of 18-karat rose or yellow gold, depending on the colors of NFT.

The audience has been given a sneak peek at the collection back in April. The first pendant has been created for Tiffany & Co vice president Alexandre Arnault. The vice president used Twitter to share his rose gold and enamel pendant interpretation of owned CryptoPunk #3167. 

The company first ventured into NFTs back in March, when they used Twitter to announce purchasing “Okapi” from artist Tom Sachs. The company has paid $380,000 for this NFT and since then uses it as its Twitter profile picture. 

Moreover, on April 1st Tiffany & Co released 18-karat gold coins called TiffCoins. 400 limited edition coins were engraved with the company's logo. 

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree