Tiffany sells NFT CryptoPunk pendants at exorbitant prices

American jewelry store Tiffany & Co is launching a pendant reserved for NFT CryptoPunk holders. Each jewel will represent the character attached to the token and will sell for an astronomical price…

CryptoPunk NFT holders can now get a handmade pendant with their token. This personal jewel is offered by the luxury jewelry store Tiffany & Cofor the modest $50,000 total.

Each of these pendants has at least 30 gems or diamondsand comes with an 18-carat gold chain, the clasp of which is adorned with five diamonds.

A pendant reserved for CryptoPunks owners

Only owners of a CryptoPunk can take advantage of this exclusive offer. Reminds that it is one of the oldest NFT collectionsconsisting of images of pixelated punk characters.

These characters are massively used as avatars on Twitter and other social networks, not holders of NFTs or simply by fans who use them as profile pictures without necessarily owning them.

The art style may seem simplistic, but it the average price of a CryptoPunk is $200,000. Despite the decline in the crypto and NFT market, this collection remains reserved for the wealthy.

Tiffany & Co. to conquer Web3

He only 10,000 CryptoPunks NFTs exist, and even fewer holders, as some buy more. It is therefore this limited but rich audience that Tiffany & Co. want to seduce. By purchasing one of these valuable pendants, CryptoPunk owners will be able to leverage their NFT as a symbol of wealth in the real world.

It is not the first time that Tiffany & Co. interested in the Web3 world. In March 2022, the firm purchased an NFT for $380,000. Then she launched her TiffCoin cryptocurrency, but it was an April fool. This hoax nevertheless served him the marketing campaign for his limited edition 18-karat gold coins.

However, it is interesting that the American jewelry industry is aiming NFT holders as new customers potential instead of trying to attract its traditional customers to buy NFT.

CryptoPunks rendered identical to gems

The company claims that this pendant will be resumed The CryptoPunk art style with the highest fidelity “. In particular, we learn that 3D glasses will be designed with baguette-cut diamonds.

That colors will be restored as faithfully as possible by using the natural colors of different gemstones. The CryptoPunk number will also be engraved on the back. All details about the manufacture of the jewelry are available on the official page at this address.

An NFTiff limited to 250 copies

Each pendant is included a NFT “NFTiff”, limited to 250 copies. CryptoPunk owners who purchase a pendant will be able to mint their NFTiff and keep it or resell it. Sales and minting will begin on August 5, 2022 on the official website dedicated to this address.

This pendant has been added the list of luxury items related to NFTs. In July 2022, Chevrolet tried (unsuccessfully) to auction an NFT that comes with a 2023 Corvette. Likewise, Alfa Romeo includes an NFT with its new Tonale SUV.

Faced with the price of NFTs, the luxury industry has understood that investors have a colossal budget and are looking to target this new target group. It remains to be seen if the big fish will take the bait…

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