Luxury jewelry brand Tiffany&Co has introduced its first collection of non-fungible tokens (NFTs) launched exclusively for CryptoPunk holders.
In a tweet on July 31, Tiffany&Co announced the sale of 250 handmade pendants encrusted with diamonds and gemstones worth 30 ETH ($50,700) each.
We're taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You'll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4
— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
It is understood that the NFTiff token sale will be launched on August 5 and will only be available for purchase through its website with physical pendants expected to be delivered in early 2023.
However, each CryptoPunk is limited to a maximum of three NFTiff tokens that allow them to convert them into pendants.
There are 87 different features and 159 colors that can be used to create a custom pendant, even the pendant itself is made of yellow gold (based on the NFT color palette).
Tiffany&Co stands to make a profit of up to 7,500 ETH ($12.7 million) if all of these limited edition pendants are sold out.
This collection was first introduced by the vice president of Tiffany&Co, Alexander Arnault who turned his CryptoPunk #3167 into a pendant in a share on twitter last April.
When punks go wild at @TiffanyAndCo
#3167
Rose gold and enamel Cryptopunk.
Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.
LFG! pic.twitter.com/M2c8AmwU0R
— Alexandre Arnault (@alexarnault) April 7, 2022
Interesting isn't it? With this latest move from Tiffany&Co, more brands may soon follow.
