all about cryptop referances
The luxury jewelery and specialty retailer Tiffany & Co. announced that the firm plans to sell 250 non-fungible token passes called “Nftiff”. Essentially, Cryptopunk holders will be able to acquire one of the 250 Nftiffs for 30 ether or roughly $50K using current ethereum rates.
30 ETH was trending on Twitter on Sunday afternoon after luxury jewelry company Tiffany & Co. (NYSE: TIF) announced: “The future is here and it’s called Nftiff.” Essentially, Nftiff is a new Tiffany product that aims to combine the beauty of digital collectibles and luxury jewelry. The company’s blog post about the limited edition Nftiff products shows that the items represent a collection of 250 digital passports.
However, Tiffany’s Nftiffs can only be purchased by Cryptopunk’s NFT holders, and a customer is limited to purchasing three Nftiffs. Buyers will receive a specially designed pendant and NFT that resembles the piece of jewelry. Each Tiffany’s Nftiff will sell for 30 ethereum (ETH) on August 5, 2022, at 10:00 AM (EST), and at the time of writing, 30 ETH is approximately $50,481. Buyers will receive the NFT, pendant, and shipping after paying for the Tiffany’s- marked NFT.
“Tiffany & Co. designers will interpret each Cryptopunk into custom-designed pendants – converting the 87 attributes and 159 colors displayed across the collection of 10,000 Cryptopunk NFTs into the most similar gemstone or enamel color,” the company’s blog post details. The luxury jewelery company added:
Depending on which Cryptopunk owners purchase pendants, each piece will use at least 30 gemstones and/or diamonds to create the custom designs with the highest fidelity to the original NFT art. Examples of gemstones include, but are not limited to, sapphires, amethyst, and spinel.
Tiffany’s Nftiffs were the talk of the town on Twitter, with many commenting on how expensive they were. “Tiffany’s issues 250 NFTs for 30 ETH each = $11 million. In this market,” one person wrote. “My desire to start a Web3 strategy consulting firm is growing every day,” the person added. A person who said they were putting blue-chip NFTs on jewelry before Tiffany’s came up with the idea tweeted about the upcoming Tiffany’s NFT launch. Nftjeweler.eth so:
When I put Cryptopunks on jewelry, everyone made fun of me. Now [Tiffany’s] is about to release 250 Punk Chains and sell out for 30 ETH each.
Tiffany’s says people need to make sure they interact with the official Nftiffs contract, and the firm emphasizes that nft.tiffany.com is the only site that will sell Tiffany’s Nftiffs. Tiffany’s partnered with Web3 and blockchain cloud infrastructure company Chain and nft.tiffany.com simply has a countdown clock and a link to the FAQ page.
What do you think of the upcoming Tiffany & Co. Nftiffs? Let us know what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons, Editorial Credit: Claudio Stocco / Shutterstock.com, Nftjeweler.eth via Twitter, Tiffany & Co.
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