While CryptoPunks are one of the most well-known non-fungible token (NFT) collections, luxury jeweller Tiffany & Co. wants to showcase them in jewellery. A collection of 250 unique pendants will be created, priced at 30 ETH each.
Tiffany & Co. creates necklaces in the image of CryptoPunks
LVMH’s American jeweller, Tiffany & Co. is delving into non-fungible tokens (NFT) with the creation of a collection dedicated to CryptoPunks:
We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN NFTiff TiffanyAndCo pic.twitter.com/pyKlWejHv4
– Tiffany & Co. (@TiffanyAndCo) July 31, 2022
A total of 250 unique pendants will be created and reserved for CryptoPunk holders. An NFT will also be provided with the jewel to certify its authenticity.
The NFTiff collection will go on sale on 5 August at a price of ETH 30 each and each piece will be unique. A buyer’s CryptoPunk will be represented as faithfully as possible on an 18-carat gold base with gemstones and enamel. All items will be made up of a minimum of 30 stones.
From 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 pieces per person can be ordered, which means that three CryptoPunks are required 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 this initiative by the brand. In fact, his NFT was reproduced on the same idea last April by the jeweller:
When punks go wild at @TiffanyAndCo
3167
Rose gold and enamel Cryptopunk.
Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.
LFG! pic.twitter.com/M2c8AmwU0R
– Alexandre Arnault (@alexarnault) April 7, 2022
This is definitely a spotlight on NFTs and we can see that successful collections are gradually developing their own identity. More and more brands are indeed appropriating elements of Web3 in their communication, which contributes to democratisation.
However, it can also be pointed out that with such news, CryptoPunks are moving 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.
While one might question the real value behind the price of certain assets, it is worth noting that this 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.
