Tiffany & Co. NFT Sale Sells, Luxury Jewelry Retailer Raises $12.5M From Ethereum – Blockchain Bitcoin News

On August 5, 2022, US luxury jewelry retailer Tiffany & Co. announced that the company’s non-fungible token (NFT) called “Nftiff” was sold. Tiffany’s offered 250 Nftiffs for 30 ethereum per Nftiff, bringing in over $12.5 million from the sale. NFTs created by Tiffany’s must be redeemed by August 12 and to date, 94 Nftiffs have been redeemed.

Tiffany & Co. NFT sale sells for $12.5 million in Ether

Six days ago, Bitcoin.com News reported Tiffany & Co. revealing an NFT mint known as “Nftiff”, a brand new product made by Tiffany’s that mixes non-fungible token technology with luxury jewelry. Since then, Tiffany’s has staged its sale and the 250 NFT items on offer, in accordance with a Tweeter revealed by the company on August 5.

Tiffany & Co. NFT sale sells out, luxury jewelry retailer rakes in $12.5 million from Ethereum
“According to Cryptopunk owners who buy pendants, each piece will use no less than 30 gemstones and/or diamonds to create custom designs with the best consistency to the unique NFT artwork,” Tiffany explained last week. “Examples of gemstones include, however, need not be limited to sapphires, amethyst, and spinel.”

Each NFT, otherwise known as Nftiff, sold for 30 ethers or just over $50,000 per NFT on Friday. The sale’s mixed value brought in more than $12.5 million for the chic jewelry retailer. “We are offered on the 250 Nftiff. Until the next mint,” Tiffany wrote on Friday. Information from Dune Analytics means that 94 Nftiffs have been traded to date by a total of 73 Cryptopunk NFT owners. On the same day as the sale, Tiffany’s said:

Nftiff couldn’t be simpler. Buy your NFT through the Nftiff gateway, select your Cryptopunk artisans and Tiffany will craft it into a bespoke pendant.

Nftiffs promote for much less than genuine sale value in secondary markets

Cryptoslam.io metrics show that Nftiff single sale and secondary market gross sales achieved the highest NFT assortment rating in terms of gross sales quantity in the past seven days. There have been 299 transactions to date from the 182 owners storing Nftiff NFTs across 48 active wallets. Cryptoslam.io insights and nftgo.io metrics each indicate that there have been defined secondary sales for Tiffany’s genuine in-demand value.

Every NFT analytics website presents Nftiff gross sales dropped as little as 27 ether and some for 27.5 and 27.8 ETH by Nftiff. This means owners have been offering Nftiffs at a loss in secondary markets, like Nftiff #42, which offered 19 hours in the past for 27 ethers or a hair over $46,000. Currently, as of this writing Sunday afternoon at 2:00 PM EST, the ground value of Nftiff is back to the 30 ETH worth of Nftiffs originally offered during the Tiffany sale.

Tags on this story

30 ETH, 30 ethereum, August 5, Blockchain, Weblog Submit, Reviews, cryptopunk, Cryptopunks pendant, luxury jewelry, luxury jewelry business, nft, Nftjeweler.eth, NFT, non-fungible token, NYSE:TIF, social media, specialty retailer, Tiffany & Co., Tiffany’s Nftiff, Tiffany’s

What are you focusing on in the Tiffany & Co. Nftiff sale? Let us know what your focus is on this topic in the comments section below.

Jamie Redman

Jamie Redman is the Chief Information Officer at Bitcoin.com Information and a money-tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News regarding the disruptive protocols that are currently on the rise.




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