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Metaverse Licensing: Tiffany & Co. Unveils Innovative NFT Program

Tiffany & Co. is selling non-fungible tokens (NFTs) that let CryptoPunk holders turn their NFT into a custom pendant.

The 250 tokens are part of a limited edition campaign, the company announced on Sunday.

The campaign was inspired by the company’s vice president Alexandre Arnault, who owns CryptoPunk #3167. Arnault turned his NFT into a pendant which he teased on social media in early April.

CryptoPunk holders will be able to purchase from Tiffany one of 250 NFTiff Passes, powered by the blockchain company Chain. Customers can only buy a maximum of three per person, which will enable them to mint a custom pendant based on their CryptoPunk.

Each NFTiff will cost 30 ETH, which includes the cost of the NFT, the custom pendant, the chain, and shipping and handling.

Chain CEO Deepak Thapliyal teased the concept on his social media earlier in the month, seen in the photo at left.

The company said Tiffany’s designers will work with the 87 attributes and 159 colors that appear across the collection of 10,000 CryptoPunk NFTs to match with the most similar gemstone or enamel color.

Each pendant will include a minimum of 30 gemstones and diamonds, and feature an engraving of the CryptoPunk’s edition number on the back. Owners will also receive a digital rendering of the pendant and a certificate of authenticity.

The sale for the NFTiff will begin on Aug. 5 at 10 a.m. EST for eligible users.

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