Tiffany & Co. is one of the most prominent names in the luxury goods industry and now launches its own NFT collection.
The popular jeweler announced via social media that the sale of the collection will start on August 5. Those interested should bring a heavy wallet as the NFTs start from 30 Ethereum.
“The future is here”
The project will be called NFTiff for the time being and in the above video, Tiffany’s announces that only 250 will be in circulation. Its own collection is not the company’s first step into the NFT world. Earlier in March, it bought an Okapi NFT from Tom Sachs. The luxury goods seller paid about $380,000 for this at the time, and it’s been the company’s profile picture on Twitter ever since.
In the following month, the company launched TiffCoins, a series of 499 gold coins that hit the market on April 1. “No we are not launching our own cryptocurrency. But these extremely limited edition 18 karat gold coins are a modern take on our Tiffany Money and a celebration of our history.” thus Tiffany’s on Twitter.
Tiffanys and Cryptopunks
Tiffany’s new NFT collection has a special relationship with the Cryptopunks. It appears that only Cryptopunk holders will be given the opportunity to purchase Tiffany’s NFTs. Namely, the 250 NFTs are designed to represent a digital and physical “pendant” of the buyer’s Cryptopunk in question.
However, there are 10,000 Cryptopunks, so in that sense it remains to be seen whether Tiffany’s will also come with NFTs for the rest of the collection in the future. Knowing the brand, however, it will remain with the limited edition of 250. Otherwise, the specialness will of course quickly disappear and that is exactly what makes a brand like Tiffany’s so special. For now we have to wait until August 5th!