Tiffany will sell 250 pieces of jewellery as NFT items

The world's largest jewellery brand Tiffany & Co. has unveiled a series of pendants that are based on the CryptoPunks collection of non-exchangeable tokens (NFTs). In the future, NFTs can be exchanged for individual diamond and gemstone pendants.

Starting August 5, 2022, CryptoPunks holders will be able to order one of 250 diamond-encrusted pendants that will become a copy of their token. An additional NFT from Tiffany will also be included in the sales package.

Each such pendant is worth 30 ETH. At the time of writing this news, that's £1,377.55. The jewellery piece is 30 mm long and approximately 20-30 mm wide. One customer will be able to buy a maximum of three pendants.

Customers will receive sample pieces in October 2022 and will not be able to participate in the design process. Finished jewellery will be delivered to customers in early 2023.

Tiffany & Co. is one of the most well-known jewellery companies that was founded in 1837 in New York. It is currently owned by LVMH.

The rights to NFT CryptoPunks were previously bought by Yuga Labs, the company behind the rival Bored Ape Yacht Club collection.

NFT items from the CryptoPunks collection sold for a record £19,564,128.85 in February