Friday, October 7, 2022

Tiffany Launches CryptoPunk Themed Pendants

Popular American jewelry firm Tiffany and Co has joined a long list of luxurious fashion brands making an entry into the Web3. According to a blog post, the firm is set to begin sales of Non-fungible Token (NFTs) themed pendants called NFTiffs.

The limited edition pendant is exclusive to only a fraction of 10,000 CryptoPunk holders. These holders can turn the NFTs into bespoke pendants that contain a minimum of 30 gemstones and diamonds. To achieve this, interested holders will have to acquire one of 250 NFTiff passes powered by Chain. This pass will allow them to mint their desired pendant based on the NFT they own.

The initiative was inspired by the firm’s vice president Alexandre Arnault. He turned his CryptoPunk #3167 into a pendant and shared it on social media earlier in April.

Each of the customized pendants is priced at 30 ETH which is around $50,000. The fee covers the cost of the NFT, the custom pendant, and the chain together with the shipping and handling.

As per information from the blog, sales of the priced pendants will commence on the 5th of August.

Although it’s primarily a collectible, Tiffany calls the NFTiff a “pass”. This means that holders could use it as privileged access for future offerings.

The Jewelry Brand began its entry into the NFT space in March when it acquired Okapi from Tom Sachs. The acquisition cost from the contemporary artist cost it $380,000.

Also in April, the American Luxury brand produced TiffCoins as part of an April fool’s prank. This gives holders access to future Tiffany happenings. The coin is available exclusively in the U.S, Canada, the U.K, and Australia. Each Coin has the company’s logo engraved on it.

Luxury Designers and the NFT space

Aside from Tiffany’s a host of luxurious fashion brands have registered their presence on the Web3.

Salvatore Ferragamo launched an NFT booth where users can mint choice NFTs from a variety of already designed traits.

Also renowned fashion brand Lacoste joins the space with the launch of its NFT collections dubbed Underwater. The project contains 11,212 digital collectibles and holders can customize their assets on products ordered.

Another reverted brand, Gucci, launched two NFT projects dubbed Gucci Grail and Super Gucci. It also began accepting crypto payments in some selected stores.

Joyce Onose
A Blockchain enthusiast and growing writer in the space with an understanding of the importance in creating quality content for readers in the industry. Also, keen on using her skills in improving Blockchain journalism.

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