The luxury jewelry and specialty retailer Tiffany & Co. announced the firm is planning to sell 250 non-fungible token passes called “Nftiff.” Essentially, Cryptopunk holders will be able to acquire one of the 250 Nftiffs for 30 ether or roughly $50K using today’s ethereum exchange rates.

Tiffany & Co. Reveals Limited Edition Jeweled Cryptopunk Pendants Backed by 250 Non-Fungible Tokens

30 ETH was trending on Twitter on Sunday afternoon after the luxury jewelry firm Tiffany & Co. (NYSE: TIF) announced: “The future is here and it’s called Nftiff.” Essentially, Nftiff is a new Tiffany’s product that aims to combine the beauty of digital collectibles and luxury jewelry. The company’s blog post about the limited edition Nftiff products notes the wares represent a collection of 250 digital passes.

However, Cryptopunks NFT holders can only purchase Tiffany’s Nftiffs. A customer can only buy three Nftiffs. Each buyer will receive a custom-designed pendant with NFT. This necklace is similar to the jewelry. Each Tiffany’s Nftiff will sell for 30 ethereum (ETH) on August 5, 2022, at 10: 00 a.m. (EST), and at the time of writing, 30 ETH is roughly $50,481. After paying for the Tiffany’s NFTs, buyers will receive the pendant and shipping.

“Tiffany & Co. designers will interpret each Cryptopunk into custom-designed pendants – converting the 87 attributes and 159 colors that appear across the collection of 10,000 Cryptopunk NFTs to the most similar gemstone or enamel color,” the company’s blog post details. The luxury jewelry company also added:

Depending on which Cryptopunk owners purchase pendants, each piece will use at least 30 gemstones and/or diamonds to create the custom designs with the highest fidelity to the original NFT art. Sapphires, Amethyst and Spinel are examples of gemstones.

Tiffany’s Digital Collectibles Announcement and the 30 Ether Price per NFT Spark Conversations on Social Media

Tiffany’s Nftiffs were the topic of Twitter conversation. Many people commented on their high price. “Tiffany’s is releasing 250 NFTs for 30 ETH each = $11 Million. In this market,” one individual wrote. The person said that their desire to open a Web3 strategy consulting company is growing every day. One person who claimed they used blue-chip NFTs to purchase jewelry before Tiffany’s was born, tweeted about the forthcoming Tiffany’s NFT launch. Nftjeweler.eth said:

When I put Cryptopunks on Jewelry, everyone made fun of me. Now [Tiffany’s] is about to drop 250 Punk chains and sell out for 30 ETH each.

Tiffany’s says that people need to make sure that they are interacting with the official Nftiffs contract and the firm stresses that nft.tiffany.com is the only site that will sell Tiffany’s Nftiffs. Tiffany’s collaborated with the Web3 and blockchain cloud infrastructure company Chain and nft.tiffany.com simply features a countdown clock and a link to the FAQ page.

What do you think about the upcoming Tiffany & Co. Nftiffs? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial credit: Claudio Stocco / Shutterstock.com, Nftjeweler.eth via Twitter, Tiffany & Co.

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