Owners of the pixelated CryptoPunk non-fungible tokens can now spend even more money to turn their token into a piece of jewellery.
This is made possible by jeweller Tiffany & Co. which announced it would be making a limited run of 250 CryptoPunk pieces. The pieces based on the NFTs will be 18K gold and will be made up of at least 30 gemstones as well as diamonds where relevant. The gemstones in question include sapphire, amethyst and spinel.
You can see an example shared by Alexandre Arnault, executive vice president of product and communications at Tiffany & Co. below.
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
Even if a CryptoPunk owner has the money needed to purchase an 18K gold, gemstone laced piece, they won’t simply be able to ring Tiffany’s up and buy one. Buyers will need to purchase something called an NFTiff which is a token that will allow the owner to mint the token and receive a CryptoPunk pendant designed to the specification of Tiffany & Co.
An NFTiff will cost 30 ETH which converts directly to $49 155 at time of writing. Buyers will need to link the NFTiff to a wallet containing a CryptoPunk, although there are workarounds for those who want to link the NFTiff to other wallets. The price of the NFTiff does cover the cost of the pendant, the chain as well as shipping and handling. Tiffany & Co. will start selling NFTiffs from 5th August and buyers can purchase up to three NFTiffs.
At the very least, a piece of jewellery can’t be stolen by a cybercriminal who dropped a phishing link in a Discord server. We do also look forward to the future of NFTs and whether in a decade these pendants are worth more than the digital art they are based on.
