Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Tiffany & Co. NFT drop sells out in an instant

Cryptocurrency Aug 05, 2022 05:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Tiffany & Co. NFT drop sells out in an instant

Luxury jeweler Tiffany & Co. has made a rather lavish entrance into the NFT space after its collection of 250 CryptoPunks-themed collectibles sold out in less than an hour.

Dubbed “NFTiffs,” the limited edition Ethereum-based digital collectibles were priced at 30 ETH (around $50,000 at today’s prices) each. The series of 250 CryptoPunks-inspired digital passes sold out in around 20 minutes, generating more than $12.5 million for the company.

The world-famous luxury jeweler tapped on Chain Protocol to launch the collection on the Ethereum blockchain.

As reported by BTC PEERS, the NFTiffs digital passes can be redeemed by CryptoPunk holders for a digital artwork based on their original Punk. They can be “minted when purchased and redeemed for the creation of a custom-designed pendant and an NFT digital artwork that resembles the final jewelry design,” the company said in a Sunday announcement.

For clarity, while anyone could purchase an NFTiff, only CryptoPunk holders are eligible to redeem them for digital art and a corresponding custom-designed jewelry pendant. Moreover, NFTiffs must be redeemed by August 12.

As for the pendants, they will be made of gold and other precious stones, with each piece featuring a minimum of 30 gemstones and diamonds, in addition to an engraving of the Punk’s edition number behind. They are expected to ship in early 2023.

As of press time, the floor price of the NFT collection had declined slightly to 28.9 ETH on OpenSea, recording a trading volume of just above 600 ETH in less than 24 hours.

Continue reading on BTC Peers

Tiffany & Co. NFT drop sells out in an instant
 

Related Articles

Binance And WazirX May Resolve Ownership Issue Soon
Binance And WazirX May Resolve Ownership Issue Soon By DailyCoin - Aug 12, 2022

An Indian media house recently reported that Binance and Indian crypto exchange WazirX might resolve the ownership issues based on the exchange between the lawyers of both...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email