Tiffany's NFT launch, no Cryptopunks involvement.

Ritu77

The cryptocurrency market has been widely known to experience a series of downturns in the past few months. Within the cryptocurrency market, all the blue-chip NFTs, such as Cryptopunks, have suffered significant setbacks, leading to a substantial drop in floor prices. However, the renowned jewelry brand Tiffany & Co. has entered the NFT market at this time with a project called NFTTiff. Users who own Cryptopunks NFTs can purchase NFTTiff and exchange it for customized pendants offline.

Tiffany & Co.'s official website states that NFTiff is a pass for Cryptopunks users that allows them to exchange it for customized Cryptopunks NFT pendants and jewelry designs based on the passes they hold. After this news was announced, the trading volume of CryptoPunks NFTs surged nearly 160% in the past 24 hours to 1114.87 ETH (approximately $1.76 million). Floor prices also rose, from 68% ETH on the 31st to a high of 74.9 ETH (approximately $118,000), an increase of more than 10%. It seems that Tiffany & Co. has many fans indeed.

Tiffany & Co.'s official website has already announced an expected delivery time in early 2023. So, why are so many people making these purchases? After users exchange for NFTiff, the official will hand the designs over to Cryptopunks designers to transform them into customized pendants and send 3D design blueprints to the owners based on their holdings. Each physical pendant will have the Cryptopunk series number and Tiffany & Co. engraved on the back, making it unique. Tiffany & Co. emphasizes that each pendant will be created using 30 gemstones or diamonds to maintain the highest artistic fidelity to the original NFT custom design.

However, Cryptopunks has a different perspective. Shortly after Tiffany & Co. officially announced this news, Cryptopunks officials stated that they were not directly involved in the NFTs issued by Tiffany & Co., but they viewed it as a positive development for the open licensing of Cryptopunks. It's truly an unexpected turn of events.

Kahn332

I think it's better to be rational when dealing with virtual things.

Kalkin995

Where there is demand, there is a business opportunity.

Janak9955

This thing is too high-end; I haven't had any experience with it, but it does look quite beautiful!

Kapil334

They are all using hot topics to create various discussions.