Tiffany & Co reveals its NFTs will be sold starting $51,000 each

Jewelry store joins NFT space as they announce their upcoming sale featuring 250, limited edition, NFTs sold for 30 ETH each. 

Tiffany & Co., one of the most recognizable names in luxury items for over a century, is introducing a new line of NFTs.

The jeweler teased its impending sale, which will begin on August 5, by tweeting a video of a pixelated grid that revealed: NFTiff.

The tweet also included a price of 30 Ethereum (slightly over $51,000 at the time of writing).

A graphic posted by famous NFT trader Cozomo de’ Medici referred to a description of NFTiffs, which stated that the offering will be a set of digital and physical pendants manufactured for owners of Cryptopunks that mimic the NFTs they already display.

The tweet’s referring website states that there will only be 250 available of the deal. Tiffany & Co. is introducing the NFTiffs, the company’s first NFT product, following months of dabbling with digging deeper into Web3.

Tiffany & Co. made its first foray into the NFT industry in March, when it purchased an Okapi NFT from Tom Sachs. The luxury goods merchant allegedly paid $380,000 for the NFT, which is now the company’s Twitter profile photo.

TiffCoins, a set of limited-edition gold coins, launched on April Fools’ Day the following month. The manufacturing of the solid gold coins was restricted to 499 pieces, each of which was uniquely engraved.

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

Tiffany & Co. also made a necklace featuring the likeness of CryptoPunk #3167, which he owns, for Alexandre Arnault, the company’s senior vice president of products and communications, in April. It was constructed of rose gold and was set with sapphires, rubies, and yellow diamonds.

NFTiffs’ page includes a statement at the bottom claiming it is “powered by Chain,” a block-chain technology startup formed in 2014 that has garnered financing from organizations such as Capital One, Nasdaq, and Visa.