The NFTiff Crypto Punk Pendant Mint...
So for those unaware, Tiffany & Co, a hundred year + jewelry company is doing something pretty crazy!
They're releasing 250 NFT Crypto Punks pendants (jewelry) exclusively for Crypto Punk holders.
What this means is that, a single Crypto Punk holder can mint up to 3 pendants for himself, or for others.
There are currently 10,000 Crypto Punks in circulation, which means that NOT ALL will be minted.
And the "mints" are restricted to 3 per vetted customer.
Again, meaning each customer can only "mint" 3 pendants.
A single "mint" will cost 30 Ethereum, which in today's market is approx. $50k.
Each pendant will consist of a minimum of 30 gemstones and/or diamonds and will be engraved with the CryptoPunk series number.
"Mints" of the pendants are expected to be physically available in early 2023, but the digital renders will be available as NFTs on the Ethereum blockchain sooner.
This NFT move is done in collaboration with Chain (XCN), a Web3 & Blockchain Infrastructure designed for Dapps.
What I think of the Tiffany & Co. NFTiff Mint...
I personally think that this idea is genius.
There's crazy scarcity.
It's being hosted by a reputable player in the jewelry space.
And the idea of targeting existing Crypto Punk holders + adding additional scarcity by only allowing for 250 passes is even more genius.
It's definitely pricey, but it's targeted exclusively to the people that can afford it.
The sale of all passes is expected to net them approx. 12.5 million with today's bear market prices...
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