Tiffany & Co turning CryptoPunk NFTs into $50K custom pendants

cointelegraph.com:

Luxury jewelry brand Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk non-fungible token (NFT) holders. 

The handcrafted CryptoPunk pendants were announced by the jewelry brand on July 31 on Twitter, and are priced at 30 ETH, equivalent to $50,600 each at the time of writing.

We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4

According to an NFTiffs Frequently-Asked Questions page, the NFTiff token sale is set to launch on August 5 at 9 am (CST), and will only be available for purchase NFTiff tokens via its website.

Each CryptoPunk is limited to a maximum of three NFTiff tokens that allow them to mint a customized pendant. There are 87 different attributes and 159 colors that can be used to custom design the pendants, and the pendant itself will be composed of 18-Karat rose or yellow gold (based on the color palette of the NFT). 

Should all the limited edition pendants sell out, Tiffany & Co stands to make 7,500 in ETH (currently $12.7 million).

The campaign was first promoted by Tiffany & Co vice president Alexandre Arnault, who owns CryptoPunk #3167 in April. In a tweet, Arnault revealed his new rose gold and enamel CryptoPunk, which was transformed with a new sapphire and Mozambique-colored set of glasses and a yellow diamond round earring.

When punks go wild at @TiffanyAndCo #3167Rose gold and enamel Cryptopunk. Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring. LFG! pic.twitter.com/M2c8AmwU0R

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