While CryptoPunks is one of the best-known non-fungible token (NFT) collections, luxury jeweler Tiffany & Co. show them on jewelry. This creates a collection of 250 unique pendants, at a price of 30 ETH each.
Tiffany & Co. makes chains in the image of CryptoPunks
The American jeweler of the LVMH group, Tiffany & Co.dives into non-fungible tokens (NFTs) by creating a collection dedicated to CryptoPunks:
We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a custom pendant, handcrafted by artisans at Tiffany & Co. You will also receive an additional NFT version of the pendant. More information: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4
— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
In total, these 250 unique pendants which will be created and reserved for holders of a CryptoPunk. An NFT is also supplied with the jewel to certify the authenticity of the jewel.
The sale of this collection called NFTiff will start on August 5 at a price of 30 ETH each and each copy will be unique. A buyer’s CryptoPunk is represented as faithfully as possible on an 18k gold back with gemstones and enamel. All copies will consist of at at least 30 stones.
As early as October, customers will receive a rendering of their NFTiff and delivery of the creation is scheduled for early 2023. Tiffany & Co. has determined that maximum three copies per person can be ordered, which therefore requires three CryptoPunks for interested parties.
👉 To continue – Find our guide to assessing the potential of an NFT collection
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The emergence of a successful collection
Alexandre Arnault, the executive director of Tiffany & Co., which owns the CryptoPunk #3167 is certainly no stranger to this brand initiative. In addition, his NFT was reproduced by the jeweler on the same idea last April:
When punks go crazy at @TiffanyAndCo
Rose Gold and Enamel Cryptopunk.
Sapphire and Mozambique Baguette Ruby Glasses, Yellow Diamond Round Earring.
— Alexandre Arnault (@alexarnault) Apr 7, 2022
This operation is definitely a spotlight on NFTs and we see that successful collections are gradually developing their own identity. More and more brands are effectively appropriating elements of Web3 in their communication, which: contribute to democratization.
However, it will also be possible to point out that with such news, the CryptoPunks are moving away from their original concept. These could originally be: claimed for free, but since then they have been a resounding success. Recently, one of the copies in the collection sold for $2.6 million.
If we can ask ourselves what the real value is behind the price of certain assets, note that in spite of everything it has the advantage attract influential people. For example, we can take the example of Snoop Dogg and Eminem, whose reach is helping to attract more and more people to the crypto ecosystem.
👉 Also in the news – NFT: Resale profit 46% lower since Q1
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Source: Tiffany & Co.
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