The pendants will go on sale from August 5 and will cost 30 Ethereum or $51,000.
The American brand Tiffany & Co has announced the creation of the “NFTiff” collection, which will be available on an exclusive basis only to the owners of “cryptopunks”.
The collection will include 250 digital assets, giving token holders access to a sample of their NFT in the form of an exclusive pendant. They will go on sale from August 5 and will cost 30 Ethereum, which is equivalent to $51,000 apiece.
“We are taking NFT to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a custom pendant, handcrafted by Tiffany & Co. You will also receive an additional version of the NFT pendant,” the company’s press service commented.
The new project was conceived by Alexandre Arnault, recently appointed Tiffany's executive vice president of products and communications. He has collaborated with Beyoncé, Jay-Z, Hailey Bieber and Supreme in his short tenure with the company.
CryptoPunks and its parent company Larva Labs are reportedly not directly involved in any way with Tiffany's new initiative. The project was made possible by individual NFT owners who have granted their intellectual property rights.
It is known that 50 “NFTiff” will be reserved for the issuing list, while the remaining 200 will be available as public mining for CryptoPunks owners. No more than three NFTs will be sold per person.
Tiffany promises to craft the pendants in 18k rose or yellow gold, with at least 30 precious stones, including diamonds, sapphires and amethysts. The back of the pendant will be engraved with Punk's unique serial number and the Tiffany logo. In addition, holders will receive ownership of the accompanying NFT render of their pendant.