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Tiffany’s Reveals First NFTs—at $51,000 Each

NFT

decrypt.co 31 July 2022 21:03, UTC
  
Reading time: ~3 m

Tiffany & Co., one of the most prominent names in luxury goods for over a century, is launching a series of NFTs.

The jeweler hinted at its upcoming sale, set to begin August 5, by tweeting out a video of a pixelated grid revealing: NFTiff.

The tweet also specified a price of 30 Ethereum (just over $51,000 at today’s price).

The future is here and it’s called NFTiff.
8/5. 30 ETH. Discover more: https://t.co/8tXkzyJAv8 #NFTiff #TiffanyAndCo pic.twitter.com/P7bIMmVOaB

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

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

An image shared by the influential NFT trader Cozomo de’ Medici pointed to a description of NFTiffs that specified the offering would be a series of digital and physical pendants, made for the owners of Cryptopunks that would resemble the NFTs they already own.

Punk now confirmed pic.twitter.com/uRqG62ChSW

— Cozomo de’ Medici (@CozomoMedici) July 31, 2022

The website the tweet links to says the offering will have a limited supply of 250. The NFTiffs, the first NFT product offered by Tiffany & Co., are being introduced after the company has flirted with diving deeper into Web3 for months.

In March, Tiffany & Co. ventured into the NFT space for the first time with its purchase of an Okapi NFT from Tom Sachs. The luxury goods retailer reportedly purchased the NFT for $380,000 and has since set it as the company’s profile picture on twitter.

We are pleased to announce our acquisition of "Okapi" by @tsrocketfactory, marking our entry into the NFT space. #TiffanyAndCo pic.twitter.com/t00vBqerr6

— Tiffany & Co. (@TiffanyAndCo) March 27, 2022

The next month it dropped TiffCoins, a series of limited-edition gold coins that debuted on April Fools’ Day. The solid gold coins were limited to a total of 499 in production and were individually engraved.

“No, we’re not launching our own cryptocurrency,” Tiffany & Co. stated on its website. “But these very real limited-release 18k gold coins are a modern version of our Tiffany Money and celebration of our history.”

They’re here! 💸 TiffCoins are an homage to our “Tiffany Money” and a celebration of our history. Strictly limited to 499 coins, individually engraved and numbered: https://t.co/TvH8FWHb4I #TiffCoin #TiffanyAndCo pic.twitter.com/0psnm18vUU

— Tiffany & Co. (@TiffanyAndCo) April 2, 2022

In April, Tiffany & Co. also created a pendant for Alexandre Arnault, the company’s executive vice president of products and communications, that featured the likeness of CryptoPunk #3167, which he owns. It was made of rose gold encrusted with sapphire, ruby, and yellow diamond.

When punks go wild at @TiffanyAndCo

#3167

Rose gold and enamel Cryptopunk.

Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.

LFG! pic.twitter.com/M2c8AmwU0R

— Alexandre Arnault (@alexarnault) April 7, 2022

The page for NFTiffs features a statement at the bottom saying it’s “powered by Chain,” a block-chain based technology company founded in 2014 that’s received funding from companies including Capital One, Nasdaq, and Visa.


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