Tiffany Sells Custom CryptoPunk Pendants for $50,000

For around $50,000 (30 Ethereum), CryptoPunk holders can get a handcrafted NFT-style (non-fungible token) necklace from Tiffany & Co. – And no, this isn’t a joke (via Decrypt). The necklace, which will contain at least 30 diamonds or gemstones, will be attached to a chain of 18 karat gold and five diamonds pavé on the clasp.

The offer is exclusive only to people who own CryptoPunk, aka the odd pixel avatars you still see on Twitter (no, not those, the others). But don’t let the overly simplistic art fool you – the average cost of these things is around $200,000, even after several months of low sales activity for the market at large. There are only 10,000 CryptoPunk designs, and now you can turn it into a custom necklace filled with gems (if you’re rich enough to be able to afford an NFT or necklace in the first place).

Tried Tiffany & Co. The world of Web3 in the past. In March, it announced its purchase of NFT for $380,000 It looks like a children’s drawing (Sorry, I’m not sorry). Tiffany later launched her cryptocurrency “TiffCoin” as an April Fools’ Day joke. While cryptocurrency did not actually exist, the joke was a marketing ploy for Tiffany’s actual, limited edition 18 karat gold coins. Even in this case, the jeweler is intriguingly targeting existing NFT holders as potential customers rather than trying to market the NFT to people who buy his traditional physical products,

The NFTiff pendant from Tiffany joins a growing number of high-end products that come with NFTs attached. Last month, Chevy attempted to auction the NFT with a free 2023 Corvette, which registered no bids, and Alfa Romeo began including the NFT with its new Tonale SUVs.

Tiffany says it will work to create a necklace “of the highest resolution” of original CryptoPunk art. She elaborates on all the details on this FAQ page where she gets really serious about how you plan to craft your NFT inspired piece of jewelry.

“For example, to create 3D glasses, Tiffany designers will make use of baguette stones,” Tiffany explains. “CryptoPunk’s colors are represented as accurately as possible using the natural colors of different gemstones.” It’s funny that a real, professional jewelry maker had to sit there and try to figure out how they would recreate a pair of 3D glasses on a necklace.

You can get an idea of ​​what a CryptoPunk necklace might look like from this Photos shared by Executive Vice President of Tiffany’s, Alexandre Arnault. He’s showing off a very pixelated necklace that actually looks like the one in his Twitter profile picture. It also has a CryptoPunk number engraved on the back.

Tiffany’s expensive charm will come with “NFTiff,” the jewelry maker’s “smart” name for NFT. It only sells 250 NFTiffs, which Tiffany says CryptoPunk holders can mint and redeem once they have purchased. The NFTiffs and their pendants will go on sale August 5th at 10AM ET on Tiffany’s dedicated NFT website.

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