- According to Tiffany’s website, anyone who bought NFTiffs must redeem their tokens by August 12.
- Each NFT brought in 30 ether (ETH), or around $50,000, bringing in about $12.5 million for the business
- Additionally, NFTiffs have been resold, with their trading volume exceeding $1 million in the last 24 hours, according to sources.
Tiffany & Co.’s NFT Project
On Friday, American luxury jewelry shop Tiffany & Co. launched and quickly sold out all 250 non-fungible tokens (NFTs). Each NFT brought in 30 ether (ETH), or around $50,000, bringing in about $12.5 million for the business. NFTiffs, which are digital passes only available to CryptoPunk NFT owners that allow them to change their NFT into a unique necklace adorned with diamonds and jewels, are Tiffany’s NFTs. Chain, a provider of blockchain technology, powers NFTiffs.
According to Tiffany’s website, anyone who bought NFTiffs must redeem their tokens by August 12. Custom pendants are anticipated to be supplied to customers in the first few months of 2019. According to the website, if a holder of an NFTiff sells their token before a necklace is shipped, they are not eligible to receive the pendant.
An Unforgettable Piece in NFT History
A maximum of three NFTiffs may be purchased by any client during the sale. Although Tiffany swiftly sold out of NFTiffs, the price at which one is now offered for purchase has decreased from the NFTiff’s retail price. According to tracker NFTGo, the floor price at the moment is around 27 ETH, or $46,000, which can result in a minor loss for the investors.
Additionally, NFTiffs have been resold, with their trading volume exceeding $1 million in the last 24 hours, according to sources. Deepak Thapliyal, CEO of Chain, claims that Tiffany & Co. has a distinct and progressive web3 strategy. With NFTiffs, the company created unforgettably significant history, Thapliyal tweeted on Saturday.
Source: https://www.thecoinrepublic.com/2022/08/08/the-grand-nft-project-by-tiffany-co-achieves-milestone/