August 17, 2022

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  • Today, Tiffany & Co. has raised more than $12.5 million from its first NFT collection.
  • At 30 ETH each, a batch of 250 NFTs inspired by CryptoPunks sold out in about 20 minutes.
  • Tiffany & Co. It is the latest in a growing list of luxury brands to show interest in cryptocurrency and NFT.

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Tiffany & Co. has become. The latest big brand to enter the world of NFT with a combination of limited edition Ethereum-based tokens and corresponding CryptoPunks jewels. At 30 ETH, 250 coins sold out in about 20 minutes, fetching over $12.5 million.

Tiffany & Co. drops their first NFTs

Tiffany’s has made a grandiose entrance into the NFT space.

The world-famous luxury jeweler launched his first NFT collection today, a series of 250 digital passes inspired by CryptoPunks dubbed “NFTiffs”. The NFTs are priced at 30 ETH, around $50,000 at today’s prices. The collection sold out in about 20 minutes, and grossed over $12.5 million. Tiffany & Co. launched. The group is on the Ethereum blockchain via a blockchain protocol.

NFTiffs are digital passes that CryptoPunk NFT holders can do recover Digital artwork based on the original Punk. Each piece of digital art will be accompanied by luxurious necklaces of the same design. The pendants themselves would be luxury items, made of gold and gemstones carefully selected to match each of the different CryptoPunks feature. It is expected to be shipped in early 2023.

While anyone (except those on the sanctioned list) can purchase an NFTiff, only CryptoPunk holders are eligible to redeem digital art based on Punk and a corresponding fine jewelry necklace. To do this, the recovered wallets must contain NFTiff and CryptoPunk to model the new artwork. NFTiffs must be redeemed by August 12th.

Despite the cooling conditions in the cryptocurrency market, the NFT sector has shown some resilience over the past year, with many well-established brands taking steps to establish a base in this space. Tiffany & Co. One of the many luxury brands that have made the leap to Web3 in recent months, with other notable brands including Gucci and Louis Vuitton.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

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