Tiffany & Co unveils NFT CryptoPunk Pendants
Tiffany & Co. has unveiled its NFT (non-fungible tokens) collection, comprised of 250 digital assets that grant holders access to a physical bespoke pendant.
Launching on 5 August, the 'NFTiff' pendants are priced at 30 Ethereum (£41,330) and can be minted and redeemed by CryptoPunks holders for the creation of a custom designed pendant and a NFT digital artwork that resembles the final jewellery design.
Each of the 250 pendants is said to be made with no less than 30 gemstones or diamonds, including but not limited to Sapphires, Amethyst, and Spinel. All pendants will be made with an 18k rose or yellow gold base that will be engraved with the unique Punk serial number and Tiffany logo on the backside.
NFTiff is Tiffany's second NFT-related initiative, following a Tiffany-inspired NFT by Tom Sachs in March 2022. The latest initiative was spearheaded by Alexandre Arnault, Cryptopunk owner and Tiffany Executive Vice President for Product and Communication.
One of a limited collection of 10,000 NFTS housed on the Ethereum blockchain, CryptoPunks is one of the first NFTs and have become one of the most highly sought after tokens.
Whilst NFTs are digital assets with a built in certificate of authenticity, Tiffany’s FAQ page refers to the NFTiff as a “pass,” which means that the digital asset may eventually grant privileged access to future offerings.
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
Find out more about the history of Tiffany as it celebrates its 185th anniversary this year.
