In one of the biggest moves by a major luxury jewellery brand, Tiffany & Co. has created a physical #IRL manifestation of a non-fungible token (NFT), partnering with one of the biggest NFT projects, CryptoPunks.
Exclusive only to existing owners of CryptoPunk NFTs only, Tiffany & Co. is rolling out a bespoke jewellery pendant for the first 250 orders. Tiffany designers will work with 87 attributes and 159 colors that appear in the 10,000 CryptoPunk NFT collection to match the most similar enamel or gem color.
Each pendant will include a minimum of 30 gems and diamonds, and will have CryptoPunk’s version number engraved on the back. Owners will also receive a digital photo of the pendant and a certificate of authenticity. Each piece is priced at 30ETH, currently trading at US$1,700 per ETH, which works out to approximately US$51,000 per pendant.
In what would turn out to be a demonstrative piece, Tiffany & Co. VP Alexandre Arnault who owns Cyptopunk #3167, had earlier teased a jewelry piece, which features rose gold and enamel along with sapphire and mozambique baguette ruby glasses, as well as a yellow diamond round earring.