When Alexandre Arnault, executive vice president of Tiffany & Co and son of LVMH chairman Bernard Arnault, turned his CryptoPunks NFT into a physical rose gold-and-enamel pendant and posted it on social media, several CryptoPunks community members expressed their desire to do the same, in a poll. His creation launched the first tangible link between NFTs and fine jewellery. That’s when Tiffany & Co made the leap into Web3 by partnering with blockchain-based software development company Chain to launch its very first NFT—or, in the brand language, ‘NFTiff’—available exclusively to 250 CryptoPunk holders, in the form of digital assets that gave them the opportunity to purchase a custom 18k gold pendant with about thirty gemstones.
Image: Tiffany
The decision was bang on! The collection went live with 250 NFTs priced at 30 ethereum each and sold out within minutes… raising the ether-equivalent of $12.5 million. For each NFTiff purchased, Tiffany designers will create a custom pendant based on the buyer’s CryptoPunk. Each CryptoPunk has a unique combination of attributes like a medical mask, a hat, or an earring, and a color palate which will be reflected in the pendant rendered in 18-karat gold and at least thirty gemstones. Tiffany & Co expects the made-to-order jewellery to be ready by February 2023.
Jasmeen Dugal is a senior writer and author for FashionABC where she is responsible for writing stories that cover the fashion industry as a whole, from fashion events to innovative brands that are transforming the industry through the use of the metaverse, sustainability, and new digital solutions. She is also very active on Instagram with more than 92k followers.
Before joining FashionABC, Jasmeen worked with Condenast India as Digital Editor, and she was instrumental in launching Vogue India’s official website. Her experience in the industry spans over a decade, during which time she has gained invaluable insights into the workings of the fashion world.
Four years ago, Jasmeen embarked on a new adventure and launched her own luxury portal, where she continues to focus on telling the stories of the people behind the brands. Her unique approach to editorial has helped her stand out in the industry, and her work is highly regarded by her peers.
Jasmeen is also an active social media user and can be followed on Twitter at @jasmeenGdugal and Instagram at @jasmeengdugal. Her social media presence showcases her expertise in the industry and provides her followers with valuable insights into the latest trends and developments in the world of fashion.
