Prolly nothing... https://decrypt.co/106333/tiffanys-reveals-first-nfts-at-51000-each Tiffany’s Reveals First NFTs—at $51,000 Each The upcoming sale will feature 250 limited edition NFTs, each priced at 30 ETH. By André Beganski Jul 31, 2022 2 min read A Tiffany's gift box. Image: Shutterstock 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). The future is here and it’s called NFTiff. 8/5. 30 ETH. Discover more: https://t.co/8tXkzyJAv8 #NFTiff #TiffanyAndCo pic.twitter.com/P7bIMmVOaB — Tiffany & Co. (@TiffanyAndCo) July 31, 2022 We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4 — Tiffany & Co. (@TiffanyAndCo) July 31, 2022 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. Punk now confirmed pic.twitter.com/uRqG62ChSW — Cozomo de’ Medici (@CozomoMedici) July 31, 2022 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. We are pleased to announce our acquisition of "Okapi" by @tsrocketfactory, marking our entry into the NFT space. #TiffanyAndCo pic.twitter.com/t00vBqerr6 — Tiffany & Co. (@TiffanyAndCo) March 27, 2022 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.” They’re here! TiffCoins are an homage to our “Tiffany Money” and a celebration of our history. Strictly limited to 499 coins, individually engraved and numbered: https://t.co/TvH8FWHb4I #TiffCoin #TiffanyAndCo pic.twitter.com/0psnm18vUU — Tiffany & Co. (@TiffanyAndCo) April 2, 2022 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. When punks go wild at @TiffanyAndCo #3167 Rose gold and enamel Cryptopunk. Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring. LFG! pic.twitter.com/M2c8AmwU0R — Alexandre Arnault (@alexarnault) April 7, 2022 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.
They are wayyyy late on this. The idea of using non-fungible tokens as some sort of collector item was a flash in the pan. Future use of NFTs will have real utility and won't be hyper links to goofy pictures.
Not everyone can purchase this... Tiffany is really selling a custom-made jewel-encrusted pendant to owners of a Cryptopunk NFT and providing a free NFT
Thanks for the heads up John, I ordered 2. Now could you fucking stop spamming the site everytime a ponzi starts? Thanks, greatly appreciated.
Pure entertainment. Can you at least admit that the utility is zero? If we can settle that this is a pure Ponzi predicated upon the next guy pushing up prices through demand then we would actually be able to peacefully coexist.
Now that's a good sound track! Yes put that art on an NFT. Can't guarantee for what it will sell for but it will be as much as someone is willing to pay for it. Just like anything else in this world.