Tiffany & Co. (NYSE:TIF) has announced that NFT trailblazers CryptoPunks is coming to the luxury jeweller in the form of limited-edition, custom pendants designed by Tiffany’s in-house jewellers.
A total of 250 “NFTiffs” will be available to CryptoPunks holders for 30 ether (US$50,000 at the time of writing) each, with auctions commencing on August 5 10:00AM EST.
Each gold pendant will use at least 30 gemstones and diamonds to recreate a physical likeness of each NFT, with the series number engraved on the reverse alongside the Tiffany & Co. logo.
We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4
— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
Each digital NFTiff will be viewable on the Ethereum blockchain while purchasers anticipate their physical delivery scheduled for early 2023.
Created by Larva Labs before being bought out by Bored Ape creators Yuga Labs in March 2022, CryptoPunks was among the first NFT projects when it launched in 2017.
CryptoPunk #4156, currently valued at over US$3.3mln — Source: cryptopunks.app
Lifetime CryptoPunk sales are around US$2bln, with some selling for seven figures: On July 15, CryptoPunk #4156 sold for US$3.31mln.
NFTs At Tiffany’s
Tiffany’s vice president Alexandre Arnault is known for his love of CryptoPunks, being the owner of CryptoPunk #3167, which sold for US$416,427 on January 29.
The jewellery company also purchased an Okapi NFT designed by artist Tom Sachs for US$380,000 in March, a crudely drawn blue rocket currently set as Tiffany’s Twitter profile.