Tiffany & Co. announced an NFT collaboration for CryptoPunk NFT owners. The so-called ‘NFTiff’ will be 30 Ethereum or about $50,000. Yahoo Finance’s Brian Sozzi, Julie Hyman and Brad Smith discussed this on August 1, 2022.
BRAD SMITH: Luxury jeweler Tiffany & Co is teasing an NFTiff. This is an exclusive NFT drop most notably for CryptoPunk NFT owners. Now, buying a digital pass allows the holder to redeem it for a digital pendant that then matches the likeness of a CryptoPunk NFT. CryptoPunk holders will be eligible to redeem the pass for a physical pendant.
Some of the other details on this because it has a hefty price tag as well here-- 250 NFTs going to be minted, each costing around 30 Ethereum. Yes, you heard that correctly, 30 Ethereum. Now, that's about $50,000 in fiat currency here.
No, not a buyer?
BRIAN SOZZI: When LVMH closed this deal for Tiffany for $16 billion, I don't think NFTs were a thing. So maybe they're just looking for all ways to try to extract value from that big, splashy purchase.