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Tiffany & Co. announce NFT exclusively for CryptoPunk NFT owners

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.

Video Transcript

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.

[LAUGHTER]

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.