American jewelry brand Tiffany & Co announced the launch of its new NFT collection. Named “NFTiff,” the series’ sale is scheduled for August 5th.
- The initiative is led by Alexandre Arnault, the recently appointed executive vice president of product and communications at the luxury retailer and former president of Rimova.
We are taking NFTs to the next level. Exclusive to Cryptopunk holders, NFTiff turns your NFT into a bespoke pendant handcrafted by the artisans at Tiffany & Co. You will also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #nftif #tiffany&co pic.twitter.com/pyKlWejHv4
— Tiffany & Co. (@TiffanyAndCo) 31 July 2022
- The famous collection will essentially consist of 250 digital passes that will be offered by Tiffany & Co. Each NFTiff costs 30 ETH (over $50,000), which includes the cost of the NFT, custom pendants, chain, and shipping/handling.
- This could potentially go down as the most expensive public sale of NFTs in history.
- NFTs can be mined at the time of purchase by holders of Cryptopunks and redeemed for the creation of custom-designed pendants and NFT digital artworks that resemble the final jewelry design.
- According to the company’s website, artisans at Tiffany & Co. will design and craft the pendant, which is inspired by the punk NFTs from the owner of Cryptopunk.
- The company will issue only 250 NFTiff passes for users to purchase. A customer can buy up to 3 NFTiffs.
- With the latest launch, Tiffany & Co. is targeting a thriving group of NFT collectors by making it exclusive to holders of cryptopunks.
- Popular brands like Adidas also jumped into the metaverse this year.
- Luxury brand Prada also announced the expansion of Web3 with the launch of its own Ethereum-based NFT collection.
Featured image courtesy of Chanakya Mall
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