Tiffany & Co. is launching an NFT collection called NFTiff, and it comes with big news for CryptoPunk holders. Owners of the 250 NFTiff Passes will be able to order a CryptoPunk pendant made after the likeness of their Punk. Here’s everything we know about the NFT collection:
- The date and time of the drop is August 5th at 10 am EST
- Tiffany & Co. will sell each NFT for 30 ETH or roughly $51,000
- Each buyer can only purchase a maximum of three NFTiff non-fungible tokens
- The sale will last until August 12th
Buyers of NFTiffs can expect to receive their pendants by early 2023. Each pendant will have at least 30 diamonds or gemstones, with the body of the pendant coming in 18-karat rose or yellow gold. The length of each individual pendant will be approximately 30 millimeters and the width around 20 millimeters.
The possibility of a collaboration between the jewelry company and the holders of CryptoPunks NFTs first leaked in April when one CryptoPunk owner showed their in-progress Tiffany & Co. pendant. Deepak Thapliyal, the CEO of blockchain infrastructure company Chain, fueled the fire with a Tweet showcasing his Zombie CryptoPunk NFT pendant.
NFT Twitter had mixed reactions to the pendants, with many saying that Tiffany & Co. was priced too high. Others believed that the move was a step forward with the space. It remains one of the few instances of CryptoPunks being able to use their holder IP rights.
CryptoPunks Has Been in the News in 2022
CryptoPunks, the revered NFT collection that set the stage for 10,000-piece NFT PFP sets, has made the news quite a bit in 2022. From major business deals to the beginnings of the Tiffany & Co partnership, here are three news stories involving CryptoPunks this year.
Five months ago, a bombshell of news hit the NFT community. Yuga Labs announced it had acquired the CryptoPunks collection, along with the Meebits collection, from Larva Labs for an undisclosed sum. Yuga was already riding high from its Bored Ape Yacht Club NFT collection, and the acquisition solidified its hold over the NFT marketplace.
Four months ago, word leaked from Tiffanyâs vice president Alexandre Arnault about his new CryptoPunks NFT pendant. The Twitter photos showed Punk #3167 created with gemstones, including two sparkling rocks to mark its 3D glasses. Arnault originally purchased his Punk for 160 ETH or $416,400.
Then, one month ago, Yuga Labs made headlines again when it announced it had tapped Noah Davis of Christie’s art house to become the CryptoPunks’ brand lead. Davis was quick to say he would not mess with the Punks, put them on lunchboxes, or employ cheap marketing tactics. He would, instead, honor the CryptoPunk legacy.
While the CryptoPunk Tiffany & Co. pendants are likely out of many people’s price range, they may come at a nice time in the crypto bear market, when NFT prices continue to struggle. And it’s an interesting utility for a collection that has so far mostly lacked it.