After collaboration with Tiffany & Co, CryptoPunk NFT sales jump 248% with DailyCoin

After partnering with iconic luxury jewelry and specialty retailer Tiffany & Co, one of the oldest NFT projects, CryptoPunks saw an increase of over 248% in sales volume in the last 24 hours.

Tiffany & Co Entering NFT World

According to CryptoSlam, the CryptoPunk collection sold 1,279 ETH, or nearly $2.16 million, the previous day. In contrast, only 123 ETH worth roughly $200,000 were sold in the last 24 hours, according to NFTPriceFloor.

The increase in sales comes after Tiffany & Co tweeted on Sunday about the launch of a separate line of NFTs called NFTiffs. The offering will be a series of digital and physical pendants created for the owners of Cryptopunks that will resemble the NFTs CryptoPunk holders own.

“We’re taking NFTs to the next level,” Tiffany wrote on Twitter (NYSE: ) on Sunday. “Exclusively for CryptoPunks holders, NFTiff transforms your NFT into a custom pendant handcrafted by Tiffany & Co. artisans. You will also receive an additional NFT version of the pendant.” The CryptoPunk pendants will be in 18k rose or yellow gold based on the color palette of the NFT. Tiffany hinted that NFTiff’s NFTs would launch on August 5 with a floor price of 30 ETH per unit, or around $50,000.

In March, Tiffany & Co. bought an Okapi NFT from Tom Sachs, which marked the company’s entry into the NFT industry. NFT is now the Twitter profile picture for the business.

We take NFTs to the next level. Exclusively for CryptoPunks holders, NFTiff transforms your NFT into a custom pendant handcrafted by Tiffany & Co. artisans. You will also receive an additional NFT version of the pendant. Learn more: #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4

—Tiffany & Co. (@TiffanyAndCo) July 31, 2022

Iconic NFT project

CryptoPunks is a collection of 10,000 algorithmically generated images tokenized as NFTs on the blockchain and created by software studio Larva Labs. The project inspired the modern CryptoArt movement.

CryptoPunk’s trend unexpectedly took off, drawing Silicon Valley CEOs, notable venture capitalists, famous YouTubers, professional poker players and important business figures into the fray.

In 2021, VISA bought a CryptoPunk for $150,000 in ETH, signaling their trend recognition of the institutional players.

On the other side

• Floor prices for NFTS can be volatile, and some NFT projects have failed, but CryptoPunks has mostly remained stable.

Why you should care

• In 2022, sales of CryptoPunk reached $2 billion.
• Many believe it is still just an internet obsession that will soon pass. However, initiatives like BAYC and CryptoPunks have significant relevance in the metaverse. These projects reflect the avatars that we will own and use for virtual interaction in the future, according to firms such as Microsoft (NASDAQ:) and Meta.

CryptoPunks influenced a digital native generation:

CryptoPunks influenced a digital native generation

How to kick-start your journey into the NFT space:

How to Kickstart Your Journey into the NFT Space: The Ultimate Beginner’s Guide

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