Tiffany’s Reveals First NFTs—at $51,000 Each

Tiffany & Co., one of the most prominent names in luxury goods for over a century, is launching a series of NFTs.

The jeweler hinted at its upcoming sale, set to begin August 5, by tweeting out a video of a pixelated grid revealing: NFTiff.

The tweet also specified a price of 30 Ethereum (just over $51,000 at today’s price).

An image shared by the influential NFT trader Cozomo de’ Medici pointed to a description of NFTiffs that specified the offering would be a series of digital and physical pendants, made for the owners of Cryptopunks that would resemble the NFTs they already own.

The website the tweet links to says the offering will have a limited supply of 250. The NFTiffs, the first NFT product offered by Tiffany & Co., are being introduced after the company has flirted with diving deeper into Web3 for months.

In March, Tiffany & Co. ventured into the NFT space for the first time with its purchase of an Okapi NFT from Tom Sachs. The luxury goods retailer reportedly purchased the NFT for $380,000 and has since set it as the company’s profile picture on twitter.

The next month it dropped TiffCoins, a series of limited-edition gold coins that debuted on April Fools’ Day. The solid gold coins were limited to a total of 499 in production and were individually engraved.

“No, we’re not launching our own cryptocurrency,” Tiffany & Co. stated on its website. “But these very real limited-release 18k gold coins are a modern version of our Tiffany Money and celebration of our history.”

In April, Tiffany & Co. also created a pendant for Alexandre Arnault, the company’s executive vice president of products and communications, that featured the likeness of CryptoPunk #3167, which he owns. It was made of rose gold encrusted with sapphire, ruby, and yellow diamond.

The page for NFTiffs features a statement at the bottom saying it’s “powered by Chain,” a block-chain based technology company founded in 2014 that’s received funding from companies including Capital One, Nasdaq, and Visa.