CryptoPunks’ Gains1,847% After Tiffany & Co. Launches Exclusive NFT Collection

CryptoPunks, one of the most well-liked nonfungible token (NFT) collections in the market, had an increase in trade volume on Monday of 1,847 percent over the course of a day.

iexclusivenews reports that Punk NFTs were traded for almost $1,226.68 ETH during that period.

This online news outlet understands that the increase in interest appears to be related to the unveiling of Tiffany & Co.’s own NFT line, which offers Punk holders a particular benefit.

The 250 digital passes in the collection are referred to as “NFTiffs.”

NFTiffs, which are issued on the Ethereum blockchain, are available for purchase by anyone.

Holders of CryptoPunk, however, can exchange their NFT for a unique jewelry experience.

Punk owners have the option of choosing to acquire a bespoke pendant and an NFT digital piece of art that resembles the finished piece of jewelry after making a purchase.

These were created by the business’s own artisans and were motivated by the Punks NFT line.

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Tiffany will make pendants utilizing at least 30 gemstones, including sapphires, amethyst, spinel, and diamonds.

With their frames made of 18-karat rose or yellow gold, depending on the Punk NFT’s color scheme.

By October, buyers will receive a rendering of their purchase, with physical delivery expected in 2023.

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The price of each NFTiff is 30 Ether, which includes the price of the NFT, a unique pendant, a chain, as well as shipping and processing.

The sale starts on August 5 at 10:00 am and ends on August 12 at 9:00 pm Eastern Time, with a cap of three passes per client.

Meanwhile, iexclusivenews Nigeria reports that at the time of publication, CryptoPunks have a floor price of 74.75 ETH.

Which means that those interested in personalized jewelry must spend around $125,000 for a Punk NFT in addition to 30 ETH for an NFTiff.