While CryptoPunks are one of the most well-known non-fungible token (NFT) collections, luxury jeweler Tiffany & Co. wants to showcase them on jewelry. A collection of 250 unique pendants will be created, priced at 30 ETH each.
Tiffany & Co. creates necklaces in the image of CryptoPunks
The American jeweler of the LVMH group, Tiffany & Co. is diving into non-fungible tokens (NFT) with the creation of a collection dedicated to CryptoPunks :
A total of 250 unique pendants will be created and reserved for CryptoPunk holders. An NFT will also be provided with the jewel, in order to certify its authenticity.
The NFTiff collection will go on sale on August 5 at a price of 30 ETH each and each piece will be unique. A buyer’s CryptoPunk will be represented as closely as possible on an 18-karat gold backing with gemstones and enamel. All copies will consist of a minimum of 30 stones.
Beginning in October, customers will receive a rendering of their NFTiff and delivery of the creation is scheduled for early 2023. Tiffany & Co. has defined that a maximum of three copies per person will be able to be ordered, which therefore requires three CryptoPunks for those interested.
The rise of a successful collection
Alexandre Arnault, the executive director of Tiffany & Co. who himself owns CryptoPunk #3167 is certainly no stranger to the brand’s initiative. Moreover, his NFT had been reproduced on this same idea last April by the jeweler :
This operation is certainly a spotlight on NFTs and we see that successful collections are gradually developing an identity of their own. More and more brands are actually appropriating elements of Web3 in their communication, which contributes to democratization.
However, it will also be possible to underline that with such a news, the CryptoPunks move away from their initial concept. The latter could originally be claimed free of charge, but they have since become extremely successful. Just recently, one of the collection sold for $2.6 million.
If we can question the real value behind the price of some assets, let’s note nevertheless that it has the advantage of attracting influential people. We can take the example of Snoop Dogg and Eminem, whose reach is helping to attract more and more people into the crypto ecosystem.