What are "NFTiffs", the crypto-related jewelry from Tiffany? - Crypto in Plain English - Episode 225 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it9 Aug 2022

What are "NFTiffs", the crypto-related jewelry from Tiffany? - Crypto in Plain English - Episode 225 - by cryptohunt.it

What are "NFTiffs", the crypto-related jewelry from Tiffany?

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English.

Luxury jewelry brand Tiffany just released real jewelry that is inspired by Cryptopunks, the famous NFT collection.

You may remember these Cryptopunks: They were the first NFT collection that became popular, because the 10,000 pixelated images resembling punk faces became a cultural phenomenon... and very expensive.

Now Tiffany is making up to 250 jewelry pieces, each looking like its corresponding Cryptopunk. The twist? Only a Cryptopunk's owner can order them.

Why is that? Well, the thing is that those owners technically own the copyright to their punks. So Tiffany can't just sell them to anyone. And priced at $50,000 each, the NFTiffs are definitely not cheap. And as you may have guessed already - they sold out all of them immediatly and made a sweet $12.5M in revenue.

Of course, you've also likely noticed what is really going on here. Tiffany is trying to sell to an audience that has money and is motivated to show it off. It's all just clever marketing.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

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