LVMH’s acquisition of Tiffany & Co. seems to have spurred a rebrand for the 184-year-old jeweler.
This week, Tiffany & Co. announced the launch of its latest and very own NFT venture entitled “NFTiff,” partnering with blockchain technology innovators, Chain. The jewelry brand teamed up with CryptoPunks – 10,000 uniquely generated characters that are commonly credited with starting the NFT craze of 2021 – to release the limited collection, which is priced at approximately $50,000, or 30ETH.
When punks go wild at @TiffanyAndCo
#3167
Rose gold and enamel Cryptopunk.
Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.
LFG! pic.twitter.com/M2c8AmwU0R
— Alexandre Arnault (@alexarnault) April 7, 2022
Drawing inspiration from the signature pixelated characters that make up the CryptoPunks, the brand will produce a limited supply of only 250 pendants, all custom-designed and handcrafted by Tiffany & Co. artisans using 18k rose or yellow gold base and no less than 30 gemstones and diamonds.
“We are incredibly excited to announce the debut of NFTiff, bringing our clients the rare opportunity to turn CryptoPunks into custom Tiffany & Co. jewelry designs through a fully digital experience,” Alexandre Arnault, Executive VP of Product and Communication at Tiffany & Co., said in a press release.
The idea of “NFTiff” came to life after Arnault shared his own real-life CryptoPunk pendant on social media earlier this year.
When punks go wild at @TiffanyAndCo
#3167
Rose gold and enamel Cryptopunk.
Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.
LFG! pic.twitter.com/M2c8AmwU0R
— Alexandre Arnault (@alexarnault) April 7, 2022
Those who have 50 stacks to dish out on a Tiffany & Co. non-fungible token will receive a digital render of the limited jewelry as an NFT alongside a certificate of authenticity. Each pendant will also be engraved with its own CryptoPunks edition number and the distinctive Tiffany logo on the back.
The pendants are launching on Tiffany’s website tomorrow at 10AM EST, however, renders will be ready by October, and the jewelry won’t be shipped out until 2023.
The NFTs are just the latest in a string of projects launched by 30-year-old Arnault in a bid to target a younger demographic.
Arnaut, who took the helm at Tiffany last year debuted an ad campaign with the controversial tagline “Not Your Mother’s Tiffany,” distancing the brand from its longtime customers. He went on to team up with Beyonce and Jay Z on an ad campaign, collaborate with Daniel Arsham, a fixture in streetwear and art, as well as roll out an exclusive hypebeast-approved collection with streetwear giant Supreme.
And with the new NFT venture, it seems that the jeweler is keen on continuing to court its younger customers.
