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Tiffany & Co. The world’s top 10 power and luxury jewelry company recently entered the crypto space with its unique NFT breakthrough.
American luxury jewelry brand Tiffany & Co. planned the sale of NFTs in the CryptoPunks collection in a very interesting way. Anyone who owns CryptoPunk can turn their NFT into a pendant of their choice, studded with gems and diamonds.
According to the official announcement of the company, the program will include 250 NFT CryptoPunk, organized under a push from vice president Tiffany & Co. is Alexandre Arnault – who owns CryptoPunk number 3167. The idea to convert NFTs to pendants was first invented by Alex. To share at the beginning of April this year on personal Twitter.
The company also revealed that Tiffany’s designers will study the 87 attributes and 159 colors that have appeared in the CryptoPunk NFT collection to match its product direction. The average price of each NFT necklace is 30 ETH, which includes the cost of the NFT, custom pendants, chain material, shipping, and handling combinations.
Besides, the owner will also receive a digital drawing of this pendant, along with a certificate of authenticity. The opening period for the release of the collection begins on August 5.
Thus, Tiffany & Co. has officially made a move to create a foothold in the Web3 world, attracting a new generation of customers. Before that, a series of other high-end fashion brands have also moved into the digital ecosystem such as fashion company Farfetch, Balenciaga allowing payment in ETH and Bitcoin; Lacoste, Gucci open NFT exhibition.
Also, as an April Fools joke, Tiffany & Co announced the launch of TiffCoin, which later rebranded as TiffCoin becoming a de facto limited edition gold coin.
Job Tiffany & Co. option CryptoPunks among the multitude of NFTs is quite understandable. Although the price of this collection has dropped by as much as 50% in the past 2 months, CryptoPunks is back on the market. At the time of writing, the NFT CryptoPunks floor price has reached the milestone 100,000 USDbecoming the top collection on NFT marketplace OpenSea in terms of transaction volume.
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