Tiffany & Co. to launch new NFT collection priced at 30 ETH a pop, community opinion divided
Luxury jewelery company Tiffany announced a new NFT project called NFTiff on July 31st. It is scheduled to launch in August.
The collection It consists of 250 unique NFTs created as a derivative of the verified CryptoPunk NFT, each associated with a real 18k gold pendant that combines gems and diamonds.
We are taking NFT to the next level. Dedicated to CryptoPunks holders, the NFTiff turns an NFT into a bespoke pendant handcrafted by a Tiffany craftsman. You will also receive an additional NFT version of the pendant. learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4
— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
The pendant will go on sale from August 5th and will be delivered in early 2023. This includes “Certificate of Authenticity, a custom pendant on the chain”. [and] Tiffany’s signature package. “
Receiving news is not entirely supportive, and many users perceive movements that resemble “market top” signals. In the last 24 hours, “Tiffany” has been a trend in the United States with over 88,000 mentions on Twitter.
idk bros
I thought it was really bottomed out
Then Tiffany came in and tried to sell the NFT at a price higher than the cost of most diamond rings.
— 2070 (@ Punk_2070) July 31, 2022
Satvik Sethi, a builder of several NFTs and Metaverse projects, called Tiffany’s NFTs “corporate cash earners” and claimed that the company could find better uses for blockchain technology.
Sethi mentioned the possibility that Tiffany would “certify its products” by integrating its blockchain into its supply chain, rather than simply selling derivative NFTs.
Tiffany & Co. If you want to use NFT / blockchain, you can integrate technology into your supply chain to certify your products, sell your NFT gate physical experience to physical buyers, or start a digital community. ..
This is a company’s cash acquisition.
— Satvik Sethi (@sxtvik) July 31, 2022
However, NFT collector 260.eth claims that “this is the kind of PR you can’t even pay for,” suggesting that the announcement is bullish on Ethereum.
260.eth further identified Tiffany’s customers as “probably the richest subsection of society” and therefore the correct audience for the NFT industry.
Tiffany has just posted about NFTs with the word “eth” in the richest subsection of society with 13 million followers.
And your idiot is angry here LOL This is the kind of PR you can’t even pay and is in the right place $ ETH And NFT as a luxury item in the heart of PPL pic.twitter.com/J6KbpLlaKt
— Daniel (260.eth) (@danielgothits) July 31, 2022
NFT artist Sarah Script believes the move is “a pretty weird rud” and cites Tiffany’s long-standing brand presence as an optimistic reason.
Tiffany is a brand nearly 200 years old and has entered the nft space. If you ask me, it’s pretty weird.
— SarahScript (@sarah_script) July 31, 2022
Artist Will Nichols was similarly confused by negative emotions, claiming that Tiffany could “claim what they wanted” for its long-standing heritage.
Why do people stumble on Tiffany selling nft on the 30th?
A legacy luxury brand that has existed for over 180 years, you can charge as much as you like.
If you don’t like the price, don’t buy it lol.
— WillNichols.eth (@nevermindwill) July 31, 2022
The launch of NFT in August Smart contract.
