Tiffany & Co debuted and quickly sold out a limited collection of 250 custom jewel-encrusted pendants for holders of CryptoPunks -- a popular early non-fungible token collection.
On Friday, Tiffany & Co debuted and quickly sold out a limited collection of 250 custom jewel-encrusted pendants for holders ofCryptoPunks was launched in 2017 and consists of 10,000 unique 8-bit-style generated characters stored on the Ethereum blockchain. The collection is"essentially the cave paintings of Web3 art," said Noah Davis, CryptoPunks' new brand lead and former head of digital sales at Christie's, in an interview with CNN.
Each NFTiff, which provides access to a pendant and a matching NFT digital rendering, costs a pretty penny: 30 ETH, or around $50,000.Davis, CryptoPunks' brand lead, told CNN the Tiffany pendants are just one iteration of possible projects tied to the NFTs. The Tiffany pendants"perfectly illustrate the license that's coming out," said Davis."In this instance, owners of Cryptopunks are essentially commissioning Tiffany's to create new IP out of their CryptoPunk, and that new IP is a pendant. You have to own the CryptoPunk in order to own the IP for the pendant."
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