Tiffany & Co turns CryptoPunk NFTs into personalized $50,000 pendants

Custom pendants are expected to cost 30 ETH a piece and go on sale August 5.

Luxury jewelry brand Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk non-fungible token (NFT) holders.

The handcrafted CryptoPunk pendants were announced by the jewelry brand on July 31 on Twitter and are priced at 30 ETH, or $50,600 each at the time of writing.

We're taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff turns your NFT into a bespoke pendant handcrafted by the artisans of Tiffany & Co.. You will also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4

According to a Frequently Asked Questions page by NFTiffs, the NFTiff Token Sale is scheduled to launch on August 5th at 9am CST and will only be available for purchase of NFTiff Tokens through its website.

Each CryptoPunk is limited to a maximum of three NFTiff tokens which allow them to mint a personalized pendant. There are 87 different attributes and 159 colors that can be used to customize the pendants, and the pendant itself will be 18k rose or yellow gold (based on the NFT color palette).

If all the limited-edition pendants sell out, Tiffany & Co should make 7,500 in ETH (currently $12.7 million).

The campaign was first promoted by Tiffany & Co Vice President Alexandre Arnault, owner of CryptoPunk #3167 in April. In a