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On August 5, 2022, American luxury jewelry retailer Tiffany & Co. announced that the company’s non-fungible token (NFT) coin called “Nftiff” was sold out. Tiffany’s sold 250 Nftiffs for 30 ethereum per Nftiff and raised more than $12.5 million from the sale. The NFTs created by Tiffany’s must be redeemed by August 12th and so far 94 Nftiffs have been redeemed.
Six days ago, Bitcoin.com News reported on Tiffany & Co. which unveils an NFT coin called “Nftiff”, a new product created by Tiffany’s that combines non-fungible token technology and luxury jewelry. Since then, Tiffany’s hosted the sale and all 250 NFT units sold out, according to a chirping published by the company on August 5.
Each NFT, otherwise known as Nftiff, sold for 30 Ether or just over $50K per NFT on Friday. The combined value of the sale brought more than $12.5 million to the luxury jewelry retailer. “We are sold out of all 250 Nftiff. Until the next coin,” Tiffany’s wrote on Friday. Data sourced from Dune Analytics indicates that 94 Nftiffs have been redeemed so far by a total of 73 Cryptopunk NFT holders. On the same day as the sale, Tiffany’s so:
Nftiff couldn’t be simpler. Buy your NFT through the Nftiff portal, choose your Cryptopunk, and Tiffany artisans will transform it into a custom pendant.
Cryptoslam.io calculations show that the initial Nftiff sale and secondary market sale have achieved the top NFT pool ranking by sales volume over the past seven days. There have been 299 transactions to date from the 182 owners who have stored Nftiff NFTs on 48 active wallets. Cryptoslam.io data and nftgo.io calculations both indicate that there has been some secondary selling set for below Tiffany’s original asking price.
Both NFT analysis sites show that Nftiff sales have dropped as low as 27 Ether and some for 27.5 and 27.8 ETH per Nftiff. This means that owners have sold Nftiffs at a loss on secondary markets, such as Nftiff #42, which sold 19 hours ago for 27 Ether or a hair over $46K. At the moment, at the time of writing Sunday afternoon at 14:00 (EST), the Nftiff floor price is back to the 30 ETH value Nftiffs originally sold for during Tiffany’s sale.
What do you think of Tiffany & Co. The nftiff sale? Let us know what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons, Tiffany & Co. Nftiffs
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