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Tiffany & Co. Joined the NFT Craze with a $12.5M Luxury Jewelry Sale

WikiBit 2022-08-15 22:06

Abstract:Tiffany & Co. sold out 250 pieces of custom diamond and gemstone pendants in just a blink of an eye. The limited edition jewel-encrusted pendants accumulated a total of $12.5M with a hefty price of $50 000 each and are only available for holders of CryptoPunks.

  Tiffany & Co. joined the NFT mania by releasing the NFTiff collection last August 05, 2022. The gist is—these luxurious limited edition pendants are only available for CryptoPunk NFT holders.

  Launched in 2017, one of the pioneers of digital collectibles, CryptoPunks is a non-fungible token (NFT) compromise of 10 000 distinctively generated characters inspired by Londons punk scene and geek films. These pixelated characters can be purchased through listing a cryptocurrency using your Ethereum (ETH) wallet.

  Buyers of NFTiffs have a digital pass redeemable with a custom-designed CryptoPunks pendants and NFT art piece uniquely made by Tiffany & Co.‘s designers. These beautifully-crafted pendants are inspired by the purchaser’s cryptopunks character, so, your cryptopunks 87 attributes and 159 colors will all reflect in your pendant. To add up, each piece is crafted by 18-karat gold and set at least with 30 precious stones/diamonds.

  The digital pass cost 30 ether (ETH) each. It went sold in 22 minutes which raised the Ether value to $12.5 million. An owner has a choice to redeem it as a pendant or if not, it will remain as a digital collectible in your wallet. One CryptoPunk holder, Thapliyal, even spent a total of 23.58 million dollars for her NFT purchase.

  Davis, CryptopPunks brand lead said, “Owning an NFT means that you own an entry on the blockchain.” given the digital era today, owning an NFT is powerful since it cannot be copied, destroyed, or faked from you.

  As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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