Following the skyrocketing success of Alexandre Arnault's CryptoPunk #3167 luxurious pendant, Tiffany & Co's goldsmiths are coming with the 250-piece NFTiff collection for CryptoPunk holders.
The luxury jewelry brand will release a limited edition of NFTs, which will act as passes to be redeemed for the ultra-valuable custom pendants at 30 ETH (~$50K) apiece. Thus, the whole NFTiff collection, featuring future jewelry pieces, is expected to net about $12 million after the sale. The brand's goldsmiths will create chic pendants, depicting each of 87 traits and 159 hues of the 10,000-piece CryptoPunk collection using the most color-fitting gemstones and enamels.
Each jewelry art piece will be encrusted with at least 30 gemstones, including Sapphires, Amethysts, Spinels, and/or diamonds. The base for a pendant will be made of 18K rose or yellow gold with Tiffany's logo and CryptoPunk's unique number engraved on it. The chain will also be adjustable between 18″-20″-22″ of rectangular links reminiscent of square pixels. The price of 30 ETH will also comprise the shipping costs.
All physical CryptoPunk jewelry pieces will be delivered to their owners with a gold chain, a certificate of authenticity, and in branded packaging.
The news was shared by Tiffany & Co via a Twitter post, which reads: "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."
To bring the idea to life on August 5th, Tiffany & Co has joint efforts with blockchain startup Chain. Only official CryptoPunk holders will be eligible to mint an NFTiff. To do that, the minters will have to connect the wallets housing their CryptoPunks. A maximum of 3 NFTiffs can be minted per wallet. Further, all NFTiff holders will have only one week until August 12th, 9 pm EST to redeem their pendants.
The luxury pendants are expected to reach their owners in early 2023, although their detailed high-res renders will be redeemed within one week after minting an NFTiff.
Are you CrypoPunk holders with at least 30 ETH on your Ethereum wallet who want to bring their beloved PFPs to physical word? If so, join the mint at the drop's official website on August 5th.
