Tiffany has released NFT and also comes with a real gem pendant

Published on 1 Weeks ago   99 views   0 Comments  

Author: a road that won't run away

Today, the news that Tiffany is about to release NFT swept the NFT community. This time-honored luxury brand is also about to integrate with the latest NFT.

The NFT released this time is called nftiffs, which is the first NFT product launched by Tiffany & Co. According to the tweet released by Tiffany, this release will be limited to 250 at a price of up to 30 eth, and only cryptopunks holders can buy them.

Affected by the news, the trading volume of cryptopunks series NFT increased by 1024.43% in 24 hours, rising to the first in trading volume. The current floor price is 74.89 eth. (it turns out that so many people pay 75 eth in advance in order to grab the NFT with 30 eth...)

It is reported that nftiffs is a pendant NFT series based on cryptopunk. Each customer can buy up to 3 nftiffs.

In addition, Tiffany also provides the corresponding physical version for this NFT pendant. However, the delivery date of physical goods is relatively long, and the expected delivery of physical goods is expected to be in early 2023.

Tiffany said that the pendant used to create custom designs uses a large number of cryptopunk design elements, including 87 attributes in the cryptopunk NFT set, and converts 159 colors in cryptopunk into the most similar gemstones or enamel colors. Each pendant will use at least 30 gemstones, including but not limited to sapphire, Amethyst and spinel.

Although the NFT has not been released yet, Tiffany has announced its contract address, which we can keep a close watch on.

NFT contract address is as follows: 0xe8f88d16f24255fcfab25959705d724406d67d9d

The NFT will be available to all qualified users at 10:00 a.m. Eastern time on August 5. At present, a striking countdown interface can be seen at the purchase entrance. NFT does not conduct airdrop, and all NFTs need to be obtained through purchase.

This is not the first time Tiffany has entered the NFT field. As early as March this year, Tiffany announced on social media that it had purchased okapi in the NFT series of Tom Sachs rocket factory, officially entering the NFT field. Then Tiffany set okapi as twitter avatar, which has been used until now.

As early as April, Alexandre Arnault, an executive at Tiffany, designed a pendant by himself. This pendant is based on his cryptopunk \3167. Although we don't know the specific image of this NFT pendant, it may provide us with a reference for cryptopunk pendant.


Technology service provider behind Tiffany


Interestingly, this NFT release was not completed by Tiffany alone. The bottom layer of this NFT release is not the familiar public chain. You can see the words "powered by chain" under the official website of the project. Chain company has provided a series of basic support for this NFT release project.

Chain provides customers with "NFT as a service" (nft-as-a-service), that is, from the initial design, customization to code deployment, through end-to-end services, to help customers launch customized NFT products. Although we are unable to know the specific details of the cooperation between Tiffany and chain, we may speculate that chain may still complete more work in this NFT release, rather than the brand side "personally".

Its official information shows that chain has built a rich encrypted account book and cloud infrastructure to support transformative financial products and Web3 services. Chain, founded in 2014, has raised more than $40million from Khosla ventures, Pantera capital, capital one, Citigroup, Fiserv, NASDAQ, orange and visa. In 2018, chain was acquired by stellar.


Luxury brands rush into Web3


Whether for marketing purposes or hoping to expand upstart customers, it is nothing new for luxury brands to enter the field of Web3 and test the NFT. In particular, Tiffany has been merged by LVMH group for one year, and the luxury giant has also been testing the NFT field.

In April last year, LV, Cartier and Prada jointly launched aura, a blockchain network-based service that uses NFT to identify and track goods to crack down on counterfeit products. LV has also launched NFT games and set up a virtual Ambassador of metauniverse.

In May this year, Gucci, an Italian luxury brand, announced that it would begin to accept payments in 12 cryptocurrencies in five stores in the United States, and plans to expand this service to the United States in succession, and plans to promote it more widely in the future. In addition, Balenciaga, farfett and off white have also successively launched cryptocurrency payment services.

In addition, Fendi, a luxury brand, has also designed exclusive purses for ledger. This is the first time that a luxury brand has designed exclusive products for hardware wallets to accurately target encrypted users.

There is no doubt that the wave of Web3 and encryption has intensified in the world of luxury goods. Where to go in the end remains to be tested by time.


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