If you haven’t explored the NFT space just yet, it’s time you do! With more and more brands jumping on the virtual bandwagon, Tiffany and Co too has followed suit. The marquee has recently launched a limited edition NFT collection with CryptoPunks. Called NFTiff, the collaborative project will be available exclusively to CryptoPunks holders wherein they will receive access to render their digital CryptoPunk NFT into a physical, bespoke pendant. Further as noted by cointelegraph.com, each CryptoPunk is limited to a maximum of three NFTiff tokens that allow them to mint a customized pendant.
There are 87 different attributes and 159 colors that can be used to custom design the pendants, and the pendant itself will be composed of 18-Karat rose or yellow gold, based on the color palette of the NFT. Announcing on Twitter, the brand said: ‘We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant.’
In all, there will be only 250 NFTiffs, and they’ll each sell for $50,000 (30 ether) when they become available on Friday, August 5. The announcement of the NFT pendants has however caused a stir amongst NFT traders, mainly from the price point.
While one user said, “Our entire business model is selling massively overpriced shiny rocks, so yes, of course, we have a deep understanding of the nft market. 30 eth,” another added, ‘Am I the only one that sees no issue with Tiffany & Co asking 30 ETH for something that’s a limited supply of 250? What did y’all expect from a luxury jewelry brand?
Gauging from the above, the internet clearly seems to be divided on the Tiffany and Co. NFT collection. What are your thoughts on it?