The luxury goods purveyor, Tiffany & Co., has announced that it will be launching an NFT collection named NFTiff. The collection consists of 250 NFTs, each priced at 30 Ethereum (little over $50,000, according to CoinMarketCap). It will be available starting on August 5.
The NFTiff pieces are aimed at owners of CryptoPunks. They will come in the form of digital and physical pendants. For each CryptoPunk, its owners will be able to use three NFTiff tokens, allowing them to mint a customized pendant. The pendants themselves are encrusted with diamonds and gemstones.
For this project, Tiffany & Co. is cooperating with Chain, a blockchain technology firm that has received funding from Nasdaq, Visa, and other notable companies.
Tiffany & Co. has been looking at the Web3 space for some time now. In March 2022, they purchased an Okapi NFT for $380,000, which is currently used as the company’s Twitter account profile image. And in April this year, Tiffany & Co. launched TiffCoins, a total of 499 solid gold coins.