HomeCrypto NewsTiffany sells custom CryptoPunk pendants starting at $50,000

Tiffany sells custom CryptoPunk pendants starting at $50,000

For about $50,000 (30 Ethereum), CryptoPunk holders can get a handcrafted pendant modeled after their NFT (non-fungible token) from Tiffany & Co. — and no, this is not a joke (via Decrypt). The pendant will have at least five pave diamonds and 30 gemstones. It will be hung on an 18Kgold chain.

Only CryptoPunk owners can avail the offer. But don’t let the overly simplistic art fool you — the average cost of these things is about $200,000, even after several months of declining sales activity for the market overall. There are only 10,000 CryptoPunk designs, and now you can get your very own transformed into a custom, gem-laden pendant (if you’re rich enough to be able to afford the NFT or the pendant in the first place).

Tiffany & Co. has previously experimented with Web3 in the past. In March, it announced its purchase of a $380,000 NFT that looks like a children’s drawing (sorry, not sorry). Tiffany’s “TiffCoin,” cryptocurrency, was later introduced as an April Fool’s Day joke. Although the cryptocurrency did not exist, it was used as a marketing tactic for Tiffany’s limited-edition K Gold coins. The jeweler is targeting NFT holders in this instance as potential customers, rather than trying to sell NFTs to people who already own its physical products.

Tiffany’s NFTiff pendant is one of many high-end products with NFTs. Chevy attempted to auction off an NFT bundle with a free 2023 Corvette last month. It was unsuccessful and Alfa Romeo began including an NFT in its Tonale SUVs.

Tiffany claims it will create a pendant that is “highly faithful” to CryptoPunk art. The FAQ page contains all details about the company’s plans to create this NFT-inspired piece.

Tiffany says that to make 3D glasses, Tiffany designers use baguette stones. “CryptoPunk colors can be represented as closely as possible by using the natural colors from various gemstones.” It’s funny that a professional jewel-maker had to sit down and figure out how to recreate pixelated 3D glasses onto a pendant.

These photos, shared by Tiffany’s EVP Alexandre Arnault, give you an idea of how a CryptoPunk pendant could look. He displays a very pixel-perfect pendant, which does indeed look like the one in his Twitter profile picture. The back of the pendant has the CryptoPunk number.

Tiffany’s expensive trinket will include an “NFTiff,” which is the jewelry maker’s clever name for an NFT. It is limited to 250 TIFFiffs that CryptoPunk holders will be able to mint and redeem once they have been purchased. On Tiffany’s dedicated NFT website, the NFTiffs and their pendants will go on sale August 5th at 10AM ET.

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Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
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