Tiffany & Co. Launches NFT Project That Turns CryptoPunks into Bespoke Pendants

Tiffany & Co. has introduced its first NFT project dubbed NFTiff, which will launch CryptoPunk pendants on August 5.
Image source: Tiffany & Co.

Quick take:

  • The NFTiffs collection will consist of 250 “digital passes”.
  • Each pass is exclusively available to CryptoPunk holders and transforms their Punks into custom pendants.
  • The pendants are priced at 30 ETH each.

Tiffany & Co. announced on Sunday, Jul 31, that it is launching its first NFT project, dubbed NFTiff. The project will release 250 “digital passes” on Aug 5, exclusively available to CryptoPunk holders. Those who purchase an NFTiff will have their Punk turned into custom pendants – priced at 30 ETH each – handcrafted by Tiffany & Co. jewellers.

NFTiff is spearheaded by Alexandre Arnault, Tiffany’s EVP of product and communications and former president of Rimowa. In February, the LVMH scion joined the CryptoPunks community when he changed his Twitter profile picture to his CryptoPunk NFT.

Shortly after Alexandre Arnault showed off his CryptoPunk, Tiffany & Co. marked its entry into the Web3 space with the acquisition of “Okapi” by Tom Sachs in March for $380,000. The NFT art is now the company’s Twitter profile picture.

Early examples of the CryptoPunk pendants were revealed in April when Arnault first tweeted about a pendant in the likeness of CryptoPunk #3167, the NFT he owns. Shortly after Tiffany & Co. officially announced NFTiff, Deepak Thapliyal, the CEO of blockchain infrastructure company Chain – which powers NFTiff – also tweeted a photo of his custom-made CryptoPunk pendant.

CryptoPunk and its parent company, Larva Labs, are not involved in this project. Instead, individual CryptoPunk holders are leveraging their intellectual property rights to allow Tiffany to craft the pendants.

According to Twitter user “MikeSylphDapps” who read through the minting contract, the pre-sale of the NFTiffs is only for addresses on the allowlist, with 50 mints available. The remaining 200 mints will be available in the public sale. All interested buyers will have to go through a KYC check and each customer can only purchase a maximum of three NFTiffs.

Tiffany says that each piece will use at least 30 gemstones including but not limited to sapphires, amethyst, and spinel. Each pendant will be in 18k rose or yellow gold based on the colour palette of the NFT and will be engraved with the CryptoPunk series number on the reverse. Buyers will receive a render of their pendant by October.

Buyers can anticipate the delivery of the physical pendant in early 2023, though the digital NFTiff is available to view once the final rendering is completed as a standalone custom 1 of 1 NFT on the Ethereum blockchain. When shipped, the final delivery from Tiffany & Co. Includes a custom pendant on a chain, a certificate of authenticity and signature Tiffany & Co. packaging.

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