Tiffany & Co. turn CryptoPunk NFTs into $50,000 pendants

CryptoPunk holders can purchase a limited edition Tiffany NFT for 30 ETH

A CryptoPunk NFT displayed on a smartphone in front of hundreds of other CryptoPunks                                 
The Tiffany & Co. collection, named NFTiff, will be limited to 250 pieces and exclusive to CryptoPunk holders – Photo: Shutterstock
                                

Luxury jewellery brand Tiffany & Co. has made its foray into the non-fungible token (NFT) space by announcing it will release custom-made pendant necklaces priced at about $50,000 based on the popular CryptoPunks NFT series.

The Tiffany & Co. collection, named NFTiff, will be limited to 250 pieces and include a price tag of 30 Ethereum. Each customer will be eligible to purchase a maximum of three NFTiffs. As of 1 August 2022, Ethereum (ETH) was trading at $1,661.47.

“We’re taking NFTs to the next level,” Tiffany & Co. confirmed in a tweet. “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.”

Exclusive to CryptoPunk holders

The company said that the NFTiff sale will begin on 5 August 2022, with the price tag of 30 Ethereum including the cost of the NFT, the custom pendant, chain, shipping and handling.

The special edition collectibles will be exclusive to CryptoPunk NFT holders, with each customised piece drawing inspiration from the popular NFT that will transform into custom-designed pendants.

Tiffany confirmed it will convert the 87 attributes and 159 colors that appear across the collection of 10,000 CryptoPunk NFTs and match the most similar gemstones and enamel finishes to its pendants.

The jewellery brand also said that each piece will use around 30 gemstones and/or diamonds to create the custom designs, with gemstones including sapphires, amethyst, and spinel. Buyers will receive a render of their piece within a few months after the sale.

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