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Network data shows that as non-fungible token (NFT) trading volumes hit an all-time low, jewelry house Tiffany’s NFTs, known as NFTiffs, by contrast, began to be resold by owners for profit.
For example, one user resold a Tiffany x Punk NFT for 55 ETH, over 80% more than its original price.
Recall that this week the Tiffany jewelry house presented the NFTiff collection exclusively for the CryptoPunk NFT community, which was done with the support of Chain, a company providing blockchain solutions. Alexandre Arnault, son of billionaire and LVMH chairman Bernard Arnault, owns CryptoPunk himself and has been active in promoting the project.
There are 250 of these tokens in total, and CryptoPunk holders can use them to get a customized NFT image pendant. The right to receive a piece of jewelry (or the so-called pass) costs 30 Ethereum or $50,000. Customers can purchase up to 3 passes per wallet.
The company invited 100 cryptopunk holders to buy a similar “pass” in advance, but the mechanism for choosing customers remained unknown. The remaining 150 NFTiffs will go on sale tomorrow.
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