For around $ 50,000 (30 Ethereum), CryptoPunk holders can get a handcrafted Tiffany & Co. pendant modeled after their NFT (non-fungible token) and no, that’s no joke (via Decrypt). The pendant, which will be set with at least 30 diamonds or precious stones, will hang from an 18-karat gold chain with five pavé diamonds on the clasp.
The offer is exclusive to those who own a CryptoPunk, or those strange pixelated avatars that you always see on Twitter (no, those no, the others). But don’t be fooled by the simplistic art, the average cost of these things is around $ 200,000, even after several months of declining sales for the entire market. There are only 10,000 CryptoPunk designs, and now you can turn yours into a custom pendant filled with gems (if you are rich enough to afford the NFT or pendant as well).
Tiffany & Co. has experimented in the Web3 world in the past. In March, he announced the purchase of a $ 380,000 NFT that looks like a child’s drawing (sorry, not sorry). Tiffany then introduced its TiffCoin cryptocurrency as an April Fool’s joke. Although cryptocurrency never really existed, the joke served as a marketing ploy for Tiffany’s original limited edition 18-karat gold coins. Interestingly, again, the jeweler is targeting existing NFT holders as potential customers, rather than trying to market NFTs to people who buy his traditional physical products.
Tiffany’s NFTiff pendant joins a growing number of high-end products that have connected NFTs. Last month, Chevy attempted to auction an NFT that came with a free 2023 Corvette, which received no bids, and Alfa Romeo began including an NFT in its new Tonale SUVs.
Tiffany claims that creating a pendant with the utmost fidelity to the original CryptoPunk art will work. She lays out all the details on this FAQ page, which takes very seriously how she intends to create this NFT inspired gem.
For example, to create the 3D glasses, Tiffany designers use baguette stones, explains Tiffany. CryptoPunk colors are represented as accurately as possible by the natural colors of various gems. It’s funny enough that a real professional jeweler had to sit there and figure out how to recreate pixelated 3D glasses on a pendant.
You can get an idea of what a CryptoPunk pendant might look like from these photos by Alexandre Arnault, EVP at Tiffany. It shows a very pixelated tag that actually looks like her Twitter profile picture of her. The CryptoPunk number is also engraved on the back.
The expensive Tiffany jewelry comes with an NFTiff, the smart jeweler’s name for an NFT. Only 250 NFTiffs will be sold, which according to the owners of Tiffany CryptoPunk can be minted and traded after purchase. NFTiffs and their respective counterparts will go on sale August 5 at 10am ET on Tiffany’s dedicated NFT website.