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Tiffany is Selling custom cryptopunk pendants for $50,000

For holders of CryptoPunk nonfungible tokens (NFT), luxury jewellery company Tiffany & Co. has announced the sale of 250 pendants adorned with diamonds and gemstones.

The handcrafted CryptoPunk pendants, which cost 30 Ether (ETH), or $50,600 per piece as of this writing, were shown by the jewellery firm on Sunday.

NFTiffs’ FAQ page states that the NFTiff token sale will begin on August 5 at 2:00 PM UTC and that it will only be possible to buy NFTiff tokens online.

Each CryptoPunk is only permitted to mint a single pendant using a maximum of three NFTiff tokens. Based on the NFT’s colour scheme, they can individually design the pendants using 159 colours and 87 unique qualities. It will make the pendant of 18-karat rose or yellow gold.

If every pendant in the limited edition sells out, Tiffany & Co. will earn 7,500 ETH, which is presently worth $12.7 million.

Alexandre Arnault, a vice president at Tiffany & Co. and the owner of CryptoPunk #3167, initially publicised the campaign in April. Arnault unveiled his new rose gold and enamel CryptoPunk in a tweet.

They have upgraded it with a new pair of sapphire and Mozambique-colored glasses and a circular yellow diamond earring.

 

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