Tiffany Introduces CryptoPunk NFT Pendants
The limited-edition pendants, available in digital and physical form, retail for $50,000 and are exclusive to holders of CryptoPunks NFTs.
An NFT, or a non-fungible token, is a financial security comprised of digital data stored on a blockchain.
Tiffany’s NFT, called NFTiff, will be powered by blockchain provider Chain and be available exclusively to CryptoPunks holders.
CryptoPunks is an NFT digital art collection of 10,000 different pixelated punk rock characters on the Ethereum blockchain.
Ownership of an NFT is recorded on the blockchain and is able to be transferred to a new owner as NFTs are sold and traded.
CryptoPunks holders who purchase an NFTiff will receive access to create an exclusive, custom Tiffany & Co. pendant inspired by their own Cryptopunk character.
Holders will also receive a digital rendering of the pendant as an NFT and a certificate of authenticity.
“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,” said Alexandre Arnault, Tiffany’s executive vice president of product and communication.
Arnault owns CryptoPunk #3167 and created his own custom Tiffany pendant of the character, sharing it on social media.
He also uses the character as his avatar, a common way for holders to show off their CryptoPunk character.
— Alexandre Arnault (@alexarnault) April 29, 2022
The two were inspired to bring the opportunity to others in the CryptoPunks community, working together to create the NFTiff pass and the online gateway, NFT.Tiffany.com.
“As a CryptoPunks holder, I saw a partnership with Tiffany as a way to make NFTs accessible to new collectors as well as strengthen the existing community that has embraced the art,” said Thapliyal.
“Tiffany’s vision and Chain’s technologies are the perfect combination to produce a beautiful product and a secure online experience.”
30 ETH ⛓💎 pic.twitter.com/WHKb25quex
— Deepak.eth ⛓ (@dt_chain) July 31, 2022
Tiffany’s designers will craft the pendants using the 87 attributes and 159 colors that appear across the collection of 10,000 CryptoPunk NFTs, matching them with the most similar gemstone or enamel color.
Each pendant will include at least 30 diamonds and/or colored gemstones, or both, set in 18-karat rose or yellow gold on an 18- to 22-inch chain.
While there are more than 10,000 CryptoPunks NFTs, only 250 pendants will be created, each engraved with its CryptoPunks edition number on the back.
There will be a limit of three NFTiff passes available for purchase per individual.
The pendants will be available worldwide via Tiffany’s NFT website on Aug. 5.
The price is 30 ETH, which is the equivalent to about $50,300 as of press time.
The NFT delivery is scheduled for December while the physical pendant delivery is expected in February 2023.
The Latest
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.