The luxury jewelry and specialty retailer Tiffany & Co. announced the firm is planning to sell 250 non-fungible token passes called “Nftiff.” Essentially, Cryptopunk holders will be able to acquire one of the 250 Nftiffs for 30 ether or roughly $50K using today’s ethereum exchange rates.
However, Tiffany’s Nftiffs can only be purchased by Cryptopunks NFT holders and a customer is limited to purchasing three Nftiffs. The buyers will get a custom-designed pendant and NFT that resembles the jewelry. Each Tiffany’s Nftiff will sell for 30 ethereum (ETH) on August 5, 2022, at 10:00 a.m. (EST), and at the time of writing, 30 ETH is roughly $50,481. Buyers will get the NFT, pendant, and shipping after paying for the Tiffany’s-brand NFTs.
“Tiffany & Co. designers will interpret each Cryptopunk into custom-designed pendants – converting the 87 attributes and 159 colors that appear across the collection of 10,000 Cryptopunk NFTs to the most similar gemstone or enamel color,” the company’s blog post details. The luxury jewelry company added:
Depending on which Cryptopunk owners purchase pendants, each piece will use at least 30 gemstones and/or diamonds to create the custom designs with the highest fidelity to the original NFT art. Examples of gemstones include but are not limited to Sapphires, Amethyst, and Spinel.
When I put Cryptopunks on Jewelry, everyone made fun of me. Now [Tiffany’s] is about to drop 250 Punk chains and sell out for 30 ETH each.
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