Tiffany & Co: CryptoPunk pendants on sale for $50,000. The famous luxury jewelry company Tiffany & Co has announced, via its social networks, the launch of personalized pendants bearing the image of CryptoPunks. This initiative, named NFTiff, will only be reserved for holders of tokens from the CryptoPunks collection.
As for the pendants, which will only be available in 250 copies, they will be accompanied by a unique NFT representing them and will be marketed at a price of 30 ETH, or just over $50,000 at the current price.
The sale will start on Friday, August 5th, and will end on August 12th. The pendants, meanwhile, are expected to ship by early 2023.
A campaign started several months ago
If you have been following NFT news for several months, this news may bring back memories. Indeed, this is not the first time that Tiffany & Co has made the news in this way since last April, Alexandre Arnault, vice-president of the company, had himself made a pendant of his CryptoPunk #3167.
Tiffany & Co: CryptoPunk pendants on sale for $50,000
This approach, which had been very well received on social networks, is at the origin of the brand's current campaign, the latter also being led by Alexandre Arnault.
Meticulous work, for extremely rare pieces
If the price of 30 ETH may seem extremely high and has aroused strong reactions on social networks, it must be said that these are extremely worked pendants, and whose stones are expensive.
In this regard, the company has stated that a minimum of thirty precious stones will be used for the design of each of these pendants.
In addition, the 87 attributes and 159 colors represented through this collection will be reproduced as faithfully as possible, so that these pendants are just as unique as the NFTs from which they come. Each pendant will also be engraved on the back, with its number in the collection.
Finally, owners will also receive a digital version of their pendant, in the form of NFT, as well as a certificate of authenticity.
As for the rarity of the pendants, this is simply indisputable.
First of all, these jewels will be reserved for CryptoPunks holders, which already reduces the audience to around 3,500 people. But that's not all, since these coins, which will be limited to 3 per person (the KYC will be introduced to ensure this), will only be available in 250 copies.
Moreover, among these 250 copies, the information contained in the contract seems to indicate that only 200 of them should be available for public sale.
The remaining 50 should be reserved for a private sale.
Clearly, even among the owners of NFT CryptoPunks, very few people will have the privilege of owning one of these pendants.
Clearly, even among the owners of NFT CryptoPunks, very few people will have the privilege of owning one of these pendants.
CryptoPunks, an essential NFT project
The fact that Tiffany & Co chose the CryptoPunks project is far from trivial.
Of course, this is largely linked to the fact that Alexandre Arnault is a fan of the project. However, beyond that, CryptoPunks is a flagship project in the NFT world.
Having emerged in 2017, it has greatly contributed to the rise of non-fungible tokens and is considered an indisputable pillar of this revolution.
If we were to draw a parallel with cryptocurrencies, the CryptoPunks project would represent Bitcoin in the eyes of many people.
While not necessarily the most hyped project right now, CryptoPunks is and will remain a must-have collection, one that will continue through the years. And this, regardless of the current trend in the NFT market.
One more company in the web3
Thanks to this initiative, Tiffany & Co is now part of the long list of companies willing to integrate into the world of web3.
The company had already expressed its interest in this sector, whether through the initial set up by Alexandre Arnault a few months ago or through the April Fool's Day held this year.
The company then announced the launch of TiffCoin, a cryptocurrency in its name, which it later transformed into an 18-karat gold coin. This was available in a limited edition of 500 copies.
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