Tiffany and Co. CryptoPunk NFT necklace has been unveiled, selling to the tune of a staggering $50,000 each.
The luxury jewelry brand Tiffany & Co. is dipping its toes in the world of non-fungible tokens, shortly known as NFTs, following other high-end retailers, such as Louis Vuitton and Gucci, to name a few.
(Photo : Dia Dipasupil/Getty Images)
NEW YORK, NEW YORK - MAY 11: People wearing protective masks walk past a CryptoPunk digital art non-fungible token (NFT) displayed on an electronic billboard at a bus shelter in Midtown Manhattan on May 11, 2021 in New York City.
Tiffany and Co. CryptoPunk NFT Necklace
And as such, it is no surprise that the luxury jeweler has also entered the NFT craze.
The debut collection Tiffany & Co. aptly goes by the name NFTiff, as per the latest news story by CNET.
The luxury brand is only releasing a limited number of NFTiffs, skyrocketing its price per piece to record-breaking hefty numbers.
If we are being less vague, the Tiffany & Co. CryptoPunk NFT collection will only be limited to 250 pieces. Thus, purchasing one would be a rare opportunity. Not to mention that it would cost thousands of bucks to do so.
The NFT collection officially releases this Friday or on August 5. But it is worth noting that it would only be available for existing CryptoPunk holders.
So if you are eyeing getting your hands on it, you will need to get your hands on a CryptoPunk NFT.
(Photo : STEPHANE DE SAKUTIN/AFP via Getty Images)
A picture taken on October 29, 2019 shows the US luxury shop Tiffany&Co.'s logo outside a Tiffany&Co. Shop in Paris.
Meanwhile, the luxury brand seems to want to stay true to its jeweler brand even as it enters the NFT market.
And as such, according to a recent report by Coin Desk, buyers of the NFTiff also get a redeemable physical pendant necklace. It means that the NFT comes with a real Tiffany & Co. necklace, which its owners could wear in real life.
Tiffany and Co. CryptoPunk NFT Necklace: How Much is it Priced?
CNET notes in its report that NFTiff does not come with cheap pricing. Instead, it retails for $50,000 each.
The online tech-focused news site notes that the staggering price of the Tiffany & Co. NFT is highly likely to be the most expensive public sale in the entire history of non-fungible tokens.
The news outlet further adds that the price of NFTs in secondary marketplaces like Open Sea typically reaches stratospheric figures. But it is rare for a public sale to have a pricing range similar to the NFTiff.
To put it in context, one of the biggest NFT collections of all time, the Bored Ape Yacht Club, sells for exorbitant prices nowadays. But during its public sale launch, it only retailed for merely $200.
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Written by Teejay Boris
