Technology

Tiffany & Co.’s CryptoPunk Pendant NFTs Are Sold Out

TechnologyAug 09, 2022

Tiffany & Co.’s CryptoPunk Pendant NFTs Are Sold Out

There were only 250 made available, selling for more than $50,000.

The front and back view of a CryptoPunk pendant by Tiffany & Co. (Image courtesy of Tiffany & Co.)
New York—Tiffany & Co. introduced limited-edition CryptoPunk NFT pendants last week, and they’ve already sold out.
 
An NFT, or a non-fungible token, is a financial security comprised of digital data stored on a blockchain.
 
The jeweler’s NFT, called NFTiff, was made available exclusively to CryptoPunk holders.
 
CryptoPunks is an NFT digital art collection of 10,000 different pixelated punk rock characters on the Ethereum blockchain.
 
NFTiff holders are able to create an exclusive, custom pendant inspired by their own CryptoPunk character.
 
The 24x24 pixel art images, generated by an algorithm, were launched by Larva Labs in 2017 and were originally available for free to anyone with an Ethereum wallet.
 
After all 10,000 were claimed, many were then available for sale by their owners, with some selling for sky-high prices. The most expensive CryptoPunk sale was #5822, which sold for $23.7 million in February.
 
The average sale price of a character over the last year is 150 ETH, or about $268,000 as of press time, according to the CryptoPunk website.
 
Tiffany & Co. is known for its timeless, elegant pieces, so the funky style of the CryptoPunk characters gave one Twitter user pause.

 
While critics may take a negative view of Tiffany’s latest venture, the idea resonated with CryptoPunk holders, who scooped up its NFT.

The pendants went on sale via Tiffany’s NFT website on Aug. 5, and quickly sold out.
 
There was a limit of three NFTiff passes available for purchase per individual.
 
The price was 30 ETH, which is the equivalent to about $53,000 as of press time.

 
Tiffany’s designers will craft the pendants using the 87 attributes and 159 colors that appear across the collection of CryptoPunk NFTs, matching them with the most similar gemstone or enamel color.
 
Each pendant will include at least 30 diamonds and/or colored gemstones, set in 18-karat rose or yellow gold on an 18- to 22-inch chain. The back will be engraved with the CryptoPunks edition number.
 
Holders will also receive a digital rendering of the pendant as an NFT and a certificate of authenticity.
 
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

AuctionsMar 21, 2023
Marlene Dietrich’s Van Cleef & Arpels Bracelet Going Up for Auction

Expected to earn up to $4.5 million, the “Jarretière” bracelet is the star of Christie’s “The Magnificent Jewels of Anne Eisenhower” sale.

ColumnistsMar 21, 2023
Squirrel Spotting: Customer Retention Mindset—The New CRM

With jewelry sales coming down from their pandemic highs, retailers need to do all they can to retain existing customers, Peter Smith says.

Events & AwardsMar 21, 2023
ASJRA’s May Conference Examines ‘Iconic’ Jewelry Companies

Jewelry historians, authors, and experts will explore the works of Tiffany & Co., Oscar Heyman, Verdura, and more.

Brought to you by
Full Disclosure at Your Fingertips

Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.

IndependentsMar 21, 2023
Borsheims Executive Jennifer Johnson Retires

Johnson joined the retailer in 1987, establishing its first human resources department.

Weekly QuizMar 17, 2023
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Recorded WebinarsMar 20, 2023
Watch: Lab Grown Diamonds: What's Now? What's New? What's Next?

Supplier Spotlight Presented by IGI

Events & AwardsMar 20, 2023
Gem Awards Shine Spotlight on Design, Dedication, and Family

The industry gathered to celebrate those who elevate the jewelry and watch industries.

Brought to you by
Bringing Over 130 Years of Diamond Expertise to Modern Grading

De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.

CrimeMar 20, 2023
Jewelry Crime Reached Record Level in 2022, JSA Says

At JSA’s annual luncheon, President John J. Kennedy said the organization recorded more than 2,000 cases last year.

CollectionsMar 20, 2023
A New Book on Chanel Is a High Jewelry Lover’s Dream

It highlights Gabrielle “Coco” Chanel’s lasting influence on modern design.

Recorded WebinarsMar 17, 2023
Watch: Lessons From Gems

Jewelers of America’s Amanda Gizzi explores the qualities and accomplishments that make this year’s Gem Award nominees shine.

Events & AwardsMar 17, 2023
JCK Industry Fund Announces Grant Recipients

Here’s what the nine chosen organizations plan to do with the funds.

TrendsMar 17, 2023
Piece of the Week: Anita Ko’s Award-Ready Earrings

The designer is nominated for a Gem Award for Jewelry Design.

FinancialsMar 16, 2023
Winter Weather, Declining Engagements Weigh on Signet’s Results

The jewelry giant’s full-year sales were essentially flat, brought down by fourth-quarter declines.

FinancialsMar 16, 2023
Brilliant Earth Took a Record Number of Orders in 2022

In its recent results, the company highlighted non-bridal jewelry sales and said its “inventory-light” showroom model may change.

Events & AwardsMar 16, 2023
Amanda’s Style File: Sparkling Gems

See 15 fabulous pieces from the 2023 Gem Award for Jewelry Design nominees: Anita Ko, Kirsty Stone, and Ron Anderson and David Rees.

WatchesMar 16, 2023
Citizen’s New Eco-Drive Watches Run for a Full Year

The new Cal. E365 movement doubles the running time of the current Eco-Drive models.

SourcingMar 15, 2023
Amid Uncertainties, India’s Diamond Industry Continues to Adjust

The mood among diamantaires is fairly optimistic despite the challenges brought about by sanctions and a cloudy economic outlook.

Lab-GrownMar 15, 2023
India’s Lab-Grown Diamond Industry Is Growing Up

The mood is bullish as more companies get into the business despite the dramatic drop in lab-grown diamond prices.

SourcingMar 15, 2023
Q&A: GJEPC Chairman Vipul Shah

Shah talks with National Jeweler about diamond demand, lab-grown, and why it’s difficult to make predictions about the U.S. market.

Policies & IssuesMar 15, 2023
When Diamonds Replenish the Earth

Hari Krishna Exports and the Dholakia Foundation’s “Mission 100 Sarovar” aims to create 100 lakes to help revive an area of Gujarat.

SourcingMar 15, 2023
Canada’s Ekati Diamond Mine to Get a New Owner

Australian mining company Burgundy Diamond Mines announced plans to buy the mine in a deal valued at $136 million.

AuctionsMar 15, 2023
Antique Rings Discovered by Retirees Perform Well at Auction

A 17th-century gold seal ring and an 18th-century memento mori ring met or exceeded estimates at a recent Noonans auction.

Events & AwardsMar 15, 2023
JSA Announces Award Recipients

They will be recognized at the organization’s annual luncheon this weekend in New York City.

ColumnistsMar 14, 2023
On Data: How Did Independent Jewelers Do in January and February?

Sherry Smith breaks down the results so far this year, including which categories are the sales standouts and which are struggling.

MajorsMar 14, 2023
Dutch Historian Discovers Medieval Jewels

The 1,000-year-old find is now on display in the Dutch National Museum of Antiquities.

Events & AwardsMar 14, 2023
GemGenève Is Gearing Up for Its Biggest Show Yet

More than 200 exhibitors are scheduled for the May 11-14 event.

×

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