Tiffany & Co announces customized CryptoPunk NFT pendants 

New York-based Luxury jewelry maker Tiffany & Co is all set to dive deeper into the NFT ocean after its April stunt. The announcement by the company reveals that it has decided to launch 250 customized NFT pendants for CryptoPunk NFT holders.

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. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4

— Tiffany & Co. (@TiffanyAndCo) July 31, 2022

Tiffany will encrust diamond and gemstone and interpret each CryptoPunk into custom-designed pendants. The company explains that the designers will convert the 87 attributes and 159 colors appearing across 10,000 CryptoPunk NFTs to the most similar gemstone or enamel color. Moreover, the physical version of the pendant will be composed of 18-Karat rose or yellow gold (based on the color palette of the NFT). 

Notably, a CryptoPunk holder can buy at most three NFTiffs, with each handcrafted CryptoPunk pendant costing 30 ETH, worth around $50,000 at the time of writing. This implies that if all the tokens sell out, Tiffany & Co will make around $12.7 million.

Tiffany & Co president promotes the launch

Tiffany & Co president Alexandre Arnault, who himself owns CryptoPunk #3167, unveiled the campaign on his Twitter, where he showcased a rose gold and enamel CryptoPunk pendant with the CryptoPunk NFT name and the company logo individually engraved on the back of the pendant.

When punks go wild at @TiffanyAndCo

#3167

Rose gold and enamel Cryptopunk.

Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.

LFG! pic.twitter.com/M2c8AmwU0R

— Alexandre Arnault (@alexarnault) April 7, 2022

Interestingly, the company aims to deliver the physical form of the customized pendants by early 2023, but it aims to provide the render of the pieces by October 2022 along with the Certificate of Authenticity.

It is important to note that Tiffany entered the NFT space in April when it produced TiffCoins on April Fool’s Day. These were later converted into actual 400 18-Karat gold coins by the company.

As TheCoinRise reported, British luxury automaker Bentley Motors Limited entered the NFT space in June with its first NFT collection. In the same month, luxury fashion brand Lacoste also launched its own NFT collection called Underwater.

Luxury brands have a long history in the cryptocurrency industry, and several have started to accept crypto as payment, including Gucci, Balenciaga, and FARFETCH.