Skip to main content

Tiffany & Co – luxury brand enters the NFT market



Tiffany announced yesterday that she is releasing her first NFT. The luxury brand has set itself the goal of taking NFTs to a new level. Soon, all CryptoPunks holders will be able to have their CryptoPunk NFT turned into a custom pendant handcrafted by Tiffany & Co employees. In addition, buyers will receive an NFT version of the trailer.


What is an NFTiff?

NFTiffs represent a collection of 250 NFTs offered by Tiffany. When a buyer purchases an NFT, they can redeem it for a specially designed CryptoPunk pendant. The pendant is designed and crafted by the artisans of Tiffany & Co. The composition of materials looks like this:


GOLD:

The pendant will be 18k rose or yellow gold based on the color palette of the NFT. The rose and yellow gold perfectly complements the base color of each point type. The lighter base colors and the alien background will be made from 18R, and the two darker base colors will be made from 18Y.



STONES:

Each follower will have at least 30 stones. The stones may contain precious stones and/or diamonds. The carat weight per piece will vary depending on the attribute.

Most designs contain bead set diamonds and/or round cut gemstones. Select custom pendants feature fancy stone shapes. For example, Tiffany designers will use baguette stones to create the 3D glasses.

The CryptoPunk colors are represented as accurately as possible using the natural colors of various gems.



THE CHAIN:

The pendant also includes an 18k gold adjustable chain inspired by the shape of square pixels. The shackle (connecting device to the pendant) allows for fluid movement of the pendant and is accented with 5 pave diamonds.


A maximum of 250 NFTiffs will be sold in total, of which the maximum order quantity is limited to 3. The Tiffany NFT in conjunction with the pendant costs 30 Ether. At the current Ethereum price of $1650, this corresponds to around $50,000. The sales start is on August 5th.

Even before the NFT was released, the criticism on social media was immense. Above all, the asking price of $50,000 stands out here. So the Twitter user “Greg” tweeted if they didn't mean $30 instead of the required 30 Eth.

However, this is no longer a special case. Because the future of NFTs clearly points in one direction. NFTs are used as a marketing tool to sell real-world items, often at higher prices. The actual value of the NFT is lost and the NFT only serves as a marketing object. The luxury brand Tiffany are not the first to want to take advantage of the hype and apply this principle. It remains to be seen whether and for how long this principle will work. Calling up such prices, especially in a bear market, is not well received by the community.


In addition, the target group for the NFT must also be kept in mind. Because Tiffany is aimed exclusively at the luxury segment and therefore only speaks to a few people. It is therefore of the highest priority to create exclusivity and not to make the products available to everyone. Whether a price of 30 Ether justifies this concept is certainly debatable, but we will see it on August 5th at the latest. And if Tiffany does sell 250 NFTs at 30 ethers each, that's probably the fastest $12 million the company has made.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more