Luxury jewelry brand Tiffany is about to launch an exclusive range of gem-encrusted medallions. They will only be available to owners of NFTs from the CryptoPunks series.
The management of the fashion house came up with a kind of analogue of ICO to get jewelry. The Tiffany website will start selling NFTiff tokens from August 5, which will give the right to issue a medallion. The cost of the NFTiff token will be 30 ETH ($50,000), and only NFT CryptoPunks owners will be able to buy it, and a maximum of three tokens will be issued to one hand.
“We are taking NFT to the next level. Exclusively for CryptoPunks holders, we will turn your token into a gorgeous handmade Tiffany & Co. pendant. In addition, you will receive your own NFT version of your medallion,” the brand’s Twitter account says.
When ordering a pendant, users will be able to customize it. They will have access to 87 different attributes and 159 colors in order to make the medallion truly unique. The pendant itself will be cast in 18k rose or yellow gold.
If the brand sells all the pendants, the proceeds will be 7,500 ETH. At the current exchange rate, this is more than $12 million.
The crypto community has responded positively to the initiative of Tiffany & Co. Users appeared on the network who said that “other projects should learn from Tiffany.” The marketing director of the SmartBlocks agency emphasized that this is “an ideal way to enter the NFT space.”
In the spring, Yuga Labs bought the rights to CryptoPunks from the creators of the collection, Larva Labs.
Source: Bits
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