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Jewelry transnational corporation Tiffany has successfully implemented an innovative idea to sell a limited edition collection. The company has planned to release 250 pendants in 18k gold, set with 30 diamonds, with a Cryptopunks avatar pendant.
The sale of rights to the collections started on August 1 on the terms of the purchase of jewelry only by owners of a real NFT token.
The auction was supposed to end on August 12th, the cost of the pendant did not depend on the value of a particular type of Cryptopunks and was 30 ETH. The company also imposed restrictions on the sale of “one hand” no more than three pieces of jewelry.
Yesterday all products were sold. The future owners paid $50,000 at the time of the deal and received the NFTiff digital rendering. Jewelry will be made by December exactly according to the drawing provided to customers. Shipping is scheduled for early 2023.
Tiffany’s success also interested other fashion houses. Overall, this move clearly demonstrates the endless possibilities of applying digital currencies and technologies in real life. The company conducted low-cost marketing while studying demand and getting paid for future, unreleased products.
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