Technology

Tiffany Introduces CryptoPunk NFT Pendants

TechnologyAug 03, 2022

Tiffany Introduces CryptoPunk NFT Pendants

The limited-edition pendants, available in digital and physical form, retail for $50,000 and are exclusive to holders of CryptoPunks NFTs.

The front and back view of a CryptoPunk pendant by Tiffany & Co. (Image courtesy of Tiffany & Co.)
New York—Just months after its April Fools’ foray into cryptocurrency, Tiffany & Co. is actually entering the world of NFTs.

An NFT, or a non-fungible token, is a financial security comprised of digital data stored on a blockchain.

Tiffany’s NFT, called NFTiff, will be powered by blockchain provider Chain and be available exclusively to CryptoPunks holders.

CryptoPunks is an NFT digital art collection of 10,000 different pixelated punk rock characters on the Ethereum blockchain.

Ownership of an NFT is recorded on the blockchain and is able to be transferred to a new owner as NFTs are sold and traded.

CryptoPunks holders who purchase an NFTiff will receive access to create an exclusive, custom Tiffany & Co. pendant inspired by their own Cryptopunk character.

Holders will also receive a digital rendering of the pendant as an NFT and a certificate of authenticity.

Tiffany & Co. will offer 250 limited-edition pendants to holders of CryptoPunks NFTs, an NFT collection of digital art. (Image courtesy of Tiffany & Co.)
Tiffany & Co. will offer 250 limited-edition pendants to holders of CryptoPunks NFTs, an NFT collection of digital art. (Image courtesy of Tiffany & Co.)


“We are incredibly excited to announce the debut of NFTiff, bringing our clients the rare opportunity to turn CryptoPunks into custom Tiffany & Co. jewelry designs through a fully digital experience,” said Alexandre Arnault, Tiffany’s executive vice president of product and communication. 

Arnault owns CryptoPunk #3167 and created his own custom Tiffany pendant of the character, sharing it on social media. 

He also uses the character as his avatar, a common way for holders to show off their CryptoPunk character.
 
Chain CEO Deepak Thapliyal shared his own CryptoPunk pendant last month.

The two were inspired to bring the opportunity to others in the CryptoPunks community, working together to create the NFTiff pass and the online gateway, NFT.Tiffany.com.

“As a CryptoPunks holder, I saw a partnership with Tiffany as a way to make NFTs accessible to new collectors as well as strengthen the existing community that has embraced the art,” said Thapliyal. 

“Tiffany’s vision and Chain’s technologies are the perfect combination to produce a beautiful product and a secure online experience.”
 
The technology will come from Chain, but the design process is all Tiffany.

Tiffany’s designers will craft the pendants using the 87 attributes and 159 colors that appear across the collection of 10,000 CryptoPunk NFTs, matching them with the most similar gemstone or enamel color.

Each pendant will include at least 30 diamonds and/or colored gemstones, or both, set in 18-karat rose or yellow gold on an 18- to 22-inch chain.

While there are more than 10,000 CryptoPunks NFTs, only 250 pendants will be created, each engraved with its CryptoPunks edition number on the back.

There will be a limit of three NFTiff passes available for purchase per individual.

The pendants will be available worldwide via Tiffany’s NFT website on Aug. 5.

The price is 30 ETH, which is the equivalent to about $50,300 as of press time.

The NFT delivery is scheduled for December while the physical pendant delivery is expected in February 2023.

 Related stories will be right here … 

The Latest

SourcingDec 02, 2022
Alrosa CEO Sergey Ivanov to Step Down, Report Says

According to Russian news sources, the sanctioned head of the diamond company is leaving to take a job with an investment group.

SourcingDec 02, 2022
Lucapa Sells 170-Carat Pink Diamond Unearthed This Summer

Said to be the largest pink diamond found in hundreds of years, “The Lulo Rose” was sold for an undisclosed sum.

AuctionsDec 02, 2022
Here’s How 2 Royal Jewels Performed at Auction in Denmark

A princess’s tiara fell within its pre-sale estimate while an Art Deco bracelet from a queen doubled it.

Brought to you by
Knowledge and Skills for Today’s Hot Topics

From laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.

CollectionsDec 02, 2022
Piece of the Week: Foundrae’s Chain

A closer look at the bold links reveals a subtle, surprising detail.

Weekly QuizDec 01, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
Supplier BulletinDec 01, 2022
Take Your Jewelry Design Process Digital with the GIA Alumni Collective™

Sponsored by GIA Alumni Collective™

WatchesDec 01, 2022
Rolex to Certify Pre-Owned Watches

Retailers within its official distribution network will be able to sell the authenticated timepieces.

Brought to you by
Diamond Shoppers’ 2022 Holiday Wish List

Give your customers the best diamond buying experience this holiday season.

CollectionsDec 01, 2022
Kendra Scott’s New Collection is for Barbie Girls

The capsule collection combines the brand’s classic styles with Barbie’s signature pink color.

AuctionsDec 01, 2022
13-Carat Pink Diamond Withdrawn From Christie’s Auction

The auction house is not offering any details on why the fancy vivid pink stone was pulled from its upcoming “Magnificent Jewels” sale.

SourcingDec 01, 2022
Nomad’s Is Selling Its Stones to Raise Money for Ukraine Again

In the spirit of an advent calendar, “Gems to Help Ukraine” will sell a stone a day through Dec. 24 on the Nomad’s Instagram account.

GradingDec 01, 2022
PhotoScribe Granted Patent for Method that Verifies a Stone’s Identification

The secure mark combines an overt mark with a covert data set to provide assurance on a gem.

SurveysNov 30, 2022
5 Things Retailers Should Know About the Start to the Holiday Season

Plus, what a potential rail strike would mean for retailers.

WatchesNov 30, 2022
Watchfinder & Co. Will Launch a Marketplace Next Year

It will provide a place for select luxury watch retailers to sell their stock.

MajorsNov 30, 2022
Pomellato Buys Into Italian Goldsmith

The brand has purchased a minority stake in Costanzo & Rizzetto.

SourcingNov 30, 2022
Firestone Restarts Operations of Lesotho Diamond Mine

Liqhobong has been in a care-and-maintenance period since the start of the pandemic.

MajorsNov 29, 2022
LVMH Acquires Jewelry Manufacturer Pedemonte Group

The strategic acquisition will bolster the luxury titan’s production capacity in its watch and jewelry division.

CollectionsNov 29, 2022
Alex and Ani Founder Carolyn Rafaelian Has Launched a Fine Jewelry Line

The new brand, Metal Alchemist, focuses on unisex, classic jewelry designs.

IndependentsNov 29, 2022
Reinhold Jewelers’ Holiday Book Is an Ode to an Important Beverage

The 2022 edition of the retailer’s annual publication pays homage to the coffee farms and shops of Puerto Rico.

CollectionsNov 29, 2022
Gabriel & Co.’s ‘Fashion Book’ Is Out

Not a catalog, the magazine is a tool for Gabriel & Co. retailers to connect with their customers.

MajorsNov 29, 2022
Claire’s to Open Shop-in-Shops in Select U.S. Macy’s Stores

The partnership brings Claire’s jewelry and accessories to 20 Macy’s locations in time for the holiday season.

MajorsNov 28, 2022
Pomellato’s New Videos Raise Awareness of Violence Against Women

Starring CEO Sabina Belli and other celebrities, the videos emphasize the importance of supporting women who have experienced abuse.

IndependentsNov 28, 2022
Bert Kalisher, an Industry Veteran Who Loved Making Connections, Dies at 97

Kalisher started out manufacturing watch bands and later got into publishing, authoring two books and serving as publisher of Chronos.

Events & AwardsNov 28, 2022
Registration Is Open for AGA’s Annual Tucson Conference

Scheduled for Feb. 1, the event will feature six gemological education presentations and three hands-on sessions.

MajorsNov 28, 2022
The Kingswood Co. Is One of U.S.’s Fastest-Growing Companies Again

The jewelry cleaner manufacturer jumped up to No. 3066 on the Inc. 5000 list.

AuctionsNov 23, 2022
This Sapphire Tiara Once Owned by a Danish Princess Is Going to Auction

The Dec. 1 jewelry sale at Bonhams-owned Bruun Rasmussen will have several other pieces of royal jewelry on the block.

FinancialsNov 23, 2022
Movado Lowers Guidance Amid ‘Uncertain’ Retail Environment

Its Q3 sales dipped as inflation took its toll on shoppers in the U.S. and Europe.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy