- Tiffany & Co. announced last week that its NFTiffs had sold out, but they are available at a discount on the secondary market
- NFTiffs entitle the holder to a physical representation of their Cryptopunk made by Tiffany & Co.
- The jewellery maker sold out by Friday, but Opensea is carrying them at a discount
Jewellery maker Tiffany announced on Friday that it has sold out of its 250 NFTiffs, although some have been made available at a slight discount on the secondary market. Buying an NFTiff entitles the holder to a physical representation of their Cryptopunk made by Tiffany & Co. for 30 ETH following the excitement over a sample made back in April. Holders have four days left to claim their pendant, but it seems that some were only interested in a quick profit, something they may come to regret.
We are sold out of all 250 NFTiff. Until the next mint. #NFTiff #TiffanyAndCo
— Tiffany & Co. (@TiffanyAndCo) August 5, 2022
NFTiffs Prove Popular With Cryptopunk Holders
Tiffany & Co. launched its NFTiff scheme last week, which sees Cryptopunk holders able to pick up a physical replication of their punk in pendant form, in return for handing over 30 ETH. The move was inspired by Alexandre Arnault, Tiffanys’ 29-year-old executive Vice President of Product and Communications, himself a Cryptopunk holder, who had his made up into a bespoke pendant, made from rose gold, enamel, sapphire, ruby and yellow diamond.
After a positive response in a Twitter poll on the matter by Arnault, Tiffany & Co. announced last month that 250 Cryptopunk holders could have their punks made into pendants for 30 ETH, with the package including an NFT of the resultant piece of jewellery. The whole thing would be bundled into an NFT, called an NFTiff by the company, with holders of these NFTiffs having until August 12 to submit their details and hand over the ETH.
Head to the Opensea for a Discount
Tiffany & Co. said on Friday that all 250 had been sold, but a handful inevitably landed on the secondary market. However, those looking for a quick profit will be disappointed – the floor price on Opensea fell below the original 30 ETH over the weekend and after a quick jump it has done so again, with Cryptopunk holders able to pick up an NFTiff for 0.5 ETH less that the original price:
With four days left to shift their NFTiffs, we could see the price dropping further as the deadline looms, seeing as demand is not exactly red hot.