CryptoPunks Trading Volume Surges 1,847% After Tiffany & Co. Launches Exclusive NFT Collection
Anyone can purchase the new NFTiff, but Punk owners who own an NFTiff can also exchange it for a custom pendant.< /p>
New
On Monday, trading volume for CryptoPunks, one of the most popular non-fungible token (NFT) collections in the industry, jumped 1,847% over 24 hours. Over $1,226.68 Ether (ETH) from Punk NFT was traded during this time. The renewed interest appears to be tied to luxury jewelry retailer Tiffany & Co.'s launch of its own NFT collection, which has a special benefit for punk wearers.
Baptized "NFTiffs", the collection consists of 250 digital passes. Anyone can buy NFTiffs, which are minted on the Ethereum blockchain. However, CryptoPunk holders can redeem the NFT for a personalized jewelry experience. After purchase, Punk holders can choose to receive a custom-designed pendant and digital NFT artwork that resembles the final jewelry design. They are made by the company's artisans and inspired by the Punks NFT collection.
According to the Punk NFT color scheme, Tiffany will create pendants using at least 30 gemstones such as sapphires, amethyst, spinel and diamonds with its 18k rose or yellow gold setting. Buyers will receive a rendering of their piece by October, with physical delivery expected in 2023.
Related: NFT Clone Punks: True or False?
Each NFTiff will cost 30 Ether, which covers the cost of the custom NFT, pendant, and chain, plus shipping and handling. There is a limit of three passes per customer, with the sale beginning August 5 at 10:00 a.m. and the redemption deadline is August 12 at 9:00 p.m. EST.
As of press time, CryptoPunks have a floor price of 74.75 ETH, which means the excitement for jewelry...
Anyone can purchase the new NFTiff, but Punk owners who own an NFTiff can also exchange it for a custom pendant.< /p>
New
On Monday, trading volume for CryptoPunks, one of the most popular non-fungible token (NFT) collections in the industry, jumped 1,847% over 24 hours. Over $1,226.68 Ether (ETH) from Punk NFT was traded during this time. The renewed interest appears to be tied to luxury jewelry retailer Tiffany & Co.'s launch of its own NFT collection, which has a special benefit for punk wearers.
Baptized "NFTiffs", the collection consists of 250 digital passes. Anyone can buy NFTiffs, which are minted on the Ethereum blockchain. However, CryptoPunk holders can redeem the NFT for a personalized jewelry experience. After purchase, Punk holders can choose to receive a custom-designed pendant and digital NFT artwork that resembles the final jewelry design. They are made by the company's artisans and inspired by the Punks NFT collection.
According to the Punk NFT color scheme, Tiffany will create pendants using at least 30 gemstones such as sapphires, amethyst, spinel and diamonds with its 18k rose or yellow gold setting. Buyers will receive a rendering of their piece by October, with physical delivery expected in 2023.
Related: NFT Clone Punks: True or False?
Each NFTiff will cost 30 Ether, which covers the cost of the custom NFT, pendant, and chain, plus shipping and handling. There is a limit of three passes per customer, with the sale beginning August 5 at 10:00 a.m. and the redemption deadline is August 12 at 9:00 p.m. EST.
As of press time, CryptoPunks have a floor price of 74.75 ETH, which means the excitement for jewelry...
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