cryptoknowmics.com
On Sunday, July 31, Tiffany & Co. announced its NFT collaboration, "NFTiff," which will be made available only to owners of CryptoPunks. CryptoPunks were attached to diamond chains by the premier jewelry company Tiffany and Co. Holders of the exceptional collection can purchase 250 personalized, diamond-encrusted pendant necklaces from the corporation for 30 ETH (about $50,000). According to Tiffany's website, each necklace will have a combination of 30 diamonds and jewels. Only CryptoPunks holders can purchase the necklaces starting on August 5 in the form of NFTs that can be redeemed for actual chains. Tiffany's will earn more money from resale royalties and the sale's sell-out than $12 million. The launch happened because of the partnership with the cryptocurrency company Chain, handling the launch's entire setup. Deepak Thapliyal, CEO of Chain, initially teased the collaboration in a tweet last week. https://twitter.com/TiffanyAndCo/status/1553811244536270852
Tiffany's NFTiff Program
Alexandre Arnault, recently named executive vice president of product and communications at Tiffany and former president of Rimowa, is in charge of the 'NFTiff' program. The 29-year-old entrepreneur revitalized the renowned 185-year-old American jewelry brand with collaborators like Beyoncé, Jay-Z, Hailey Bieber, and Supreme just one year after his hiring. In this release, CryptoPunks and its parent business, Larva Labs, are not directly involved. Among the many features of this project is the use of individual Punk owner's intellectual property (IP) rights, which has attracted the community's attention. The product will only be made available for a minimal portion of the already exclusive 10,000 CryptoPunks holders - an NFT that now has a floor price of over USD 100,000 - despite the broader public's reaction that 30 ETH was far too expensive of a fee.