Tiffany & Co. Turns NFTs Into Custom Jewelry Designs for $50,000
On August 1, Tiffany & Co. announced the launch of its latest and very own NFT venture "NFTiff," partnering with blockchain technology innovators, Chain. Priced at 30ETH (approximately $50,000 USD), the global luxury retailer is giving affluent CryptoPunk holders the opportunity to mint an IRL bespoke pendant shaped like their digital punk NFT.
Despite the wide existence of over 10,000 CryptoPunks, a limited supply of only 250 physical pendants will be produced. Each custom design, handcrafted by Tiffany & Co. artisans, will be made of a luxurious 18k rose or yellow gold base and comprised of no less than 30 gemstones and diamonds. Aiming to have the highest fidelity to the collector's original NFT art, the unique pendant will draw inspiration from the shape of square pixels, characteristic of CryptoPunks' signature digital hues.
Launching on August 5, three NFTiff passes will be available to purchase per each identity-verified individual, for a limited time of one week only. The collector will receive a digital render of the limited jewelry as an NFT alongside a certificate to prove its authenticity. Each gem-studded pendant will also be engraved with its own CryptoPunks edition number and the distinctive Tiffany logo on the back.
"We are incredibly excited to announce the debut of NFTiff, bringing our clients the rare opportunity to turn CryptoPunks into custom Tiffany & Co. jewelry designs through a fully digital experience," says Alexandre Arnault, Executive VP of Product and Communication at Tiffany & Co., in a press release. Arnault organically inspired the innovative "NTFiff" project after sharing his own real-life CryptoPunk#3167 pendant on social media earlier this year.
The exclusive "NFTiff" will be available globally at Tiffany's NFT website and orders are expected to be delivered in early 2023.
