Tiffany & Co. Launches Diamond Plated CryptoPunk NFT Pendant, Sold For 30 Ethereum

NFT CryptoPunk is a diamond-covered pendant by Tiffany & Co. (RobbReport)

JAKARTA – The luxury jewelry company Tiffany & Co. has launched a handmade pendant with CryptoPunk's famous NFT design. The pendant has 30 diamonds set in an 18-carat gold chain with five additional diamonds on the other.

Tiffany & Co. The pendant is valued at USD 50.000 (approximately IDR 744 million). In addition, consumers can also buy it using the Ethereum crypto currency. The company set the price at 30 ETH. In addition, CryptoPunk NFT owners can also order the pendant based on their NFT design.

The diamond pendant with the NFT CryptoPunk design is intended for the owners of the famous NFT CryptoPunk. Citing The Verge, this exclusive offer is only for people who own CryptoPunk, aka a unique pixelated avatar.

Previously, Tiffany & Co. have experimented in the Web3 world in the past. In March, it announced the purchase of USD 380.000 NFT. Tiffany then debuted the cryptocurrency “TiffCoin” as part of an April Fool's joke.

The joke was intended as part of Tiffany's marketing strategy in selling limited edition gold coins. Uniquely, the jewelry retailer targets NFT owners to buy their products.

“We are taking NFT to the next level. Exclusive to CryptoPunks holders, NFTiff turns your NFT into a bespoke pendant made by Tiffany & Co craftsmen. You will also receive an additional NFT version of the pendant,” reads the announcement by Tiffani & Co. in their Twitter post, July 31, 2022.

Tiffany seems quite serious in targeting NFT CryptoPunk owners as its target market.

“For example, to make 3D glasses, designer Tiffany will use baguette stones,” Tiffany explains. "CryptoPunk colors are represented as closely as possible using the natural colors of various gemstones," said Tiffany, quoted from TheVerge.

In selling jewelry with NFT designs, Tiffany carries the name NFTiff. The company plans to sell only 250 NFTiffs that CryptoPunk owners can print and exchange once purchased. The NFTiff and the CryptoPunk pendant are scheduled to go on sale on August 5.