Back in March 2022, Yuga Labs, the team behind Bored Ape Yacht Club, bought CryptoPunks, BAYC’s biggest competitor. In the months since, CryptoPunks surpassed the Bored Apes as the top NFT collection by market cap. Now, luxury jewelry retailer Tiffany and Co. offers luxury pendants to CryptoPunks owners. Here’s everything you need to know about the high-end NFT jewelry collection.
Luxury NFT jewelry
Tiffany and Co. announced 250 custom diamond pendants based on the CryptoPunks NFT collection. The exclusive collection is only available to CryptoPunks owners. Each piece is encrusted with at least 30 diamonds and various precious gemstones. The gemstones include sapphire, amethyst, spinel, and others. They’re set in 18k rose or yellow gold, depending on the original NFT. And every pendant comes with an adjustable 18k gold chain and features a unique CryptoPunks series number on the back. The charms are available until August 12, 2022, and cost 30 ETH, or about $52,000.
Community reactions
Though this is the first high-end NFT jewelry collection of its kind, the announcement garnered mixed reactions. Many supporters pointed out that a long-established company like Tiffany entering the NFT market is a sign of mainstream adoption. After all, Tiffany, founded in 1837, is nearly 200 years old, and few companies can match its legacy.
However, detractors call it a “corporate cash grab” because of the minimal integration of blockchain tech. Others point out the disparity in price between CryptoPunks pendants and other Tiffany pendants. For example, one of the most expensive pendants for sale on their website, made from platinum and “extra-large” diamonds, costs $40,000. Each CryptoPunk pendant is custom-made, which naturally carries a higher price.
Regardless, Tiffany’s custom CryptoPunk NFT collection, called NFTiff, goes on sale on August 5. If you’re a rabid CryptoPunk collector with 30 ETH to spare and a taste for extravagant jewelry, check it out. Don’t forget to share your thoughts in the comments below.