Tiffany is selling custom CryptoPunk pendants for $50,000 - The Verge
Tiffany & Co. is selling a pendant exclusive to CryptoPunk NFT holders. The $50,000 pendant will be modeled after the buyer’s CryptoPunk avatar and will feature an 18K gold chain.
For about $50,000 (30 Ethereum), CryptoPunk holders can get a handcrafted pendant modeled after their NFT (non-fungible token) from Tiffany & Co. — and no, this is not a joke (via Decrypt). The pendant, which will feature “at least” 30 diamonds or gemstones, will hang on an 18K gold chain with five pave diamonds on the clasp.
The offer is exclusive only to people who own a CryptoPunk, aka the odd pixelated avatars you keep seeing on Twitter (no, not those ones, the other ones). But don’t let the overly simplistic art fool you — the average cost of these things is about $200,000, even after several months of declining sales activity for the market overall. There are only 10,000 CryptoPunk designs, and now you can get your very own transformed into a custom, gem-laden pendant (if you’re rich enough to be able to afford the NFT or the pendant in the first place).
Tiffany & Co. has experimented in the world of Web3 in the past. In March, it announced its purchase of a $380,000 NFT that looks like a children’s drawing (sorry, not sorry). Tiffany later debuted its “TiffCoin” cryptocurrency as an April Fool’s Day joke. While the cryptocurrency never actually existed, the joke served as a marketing ploy for Tiffany’s actual, limited-edition 18K gold coins. Even in this instance, the jeweler is interestingly targeting existing NFT holders as potential customers instead of trying to market NFTs to the people who buy its traditional physical products,
Tiffany’s NFTiff pendant joins a growing number of high-end products that come with NFTs attached. Last month, Chevy tried auctioning off an NFT bundled with a free 2023 Corvette, which netted zero bids, and Alfa Romeo started including an NFT with its new Tonale SUVs.
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. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4