Aug 1, 2022 at 05:05Contents
World famous brands are adding NFTs to their services or products. Now the well-known jewelry brand Tiffany & Co. has joined their company. The company began producing exclusive pendants (both real and digital) for owners of CryptoPunks NFTs. The so-called NFTiff are handmade by the artisans of Tiffany & Co. In addition, customers receive an NFT version of the pendants.
The cost of such a piece of jewelry is 30 ETH, which as of August 1 is almost $50,000. Each buyer may purchase a maximum of 3 NFTiff. A total of 250 pendants will be available, and there are already a lot of people who want to have them. NFT owners are already sharing pics of the expensive jewelry on Twitter.
30 eth pic.twitter.com/bvB516Zm7z
— rhymeten (@rhymeten) July 31, 2022
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Tiffany & Co. designers will interpret each CryptoPunk into an individual pendant, converting the 87 attributes and 159 colors found in the collection of 10,000 NFT CryptoPunks into the most similar color of gemstone or enamel. Depending on the CryptoPunk, at least 30 gemstones and/or diamonds will be used in each piece to create a custom design with the utmost fidelity to the original NFT art. Examples of gems include but are not limited to sapphires, amethysts, and spinels. There will be at least 30 gemstones in each piece.
The expected delivery of the physical item is in early 2023. However, the digital versions will be available for viewing once the final rendering is complete as a separate custom NFT on the Ethereum blockchain.
NFTs have reached Tag Heuer as well
The luxury wristwatch brand Tag Heuer was one of the first to start accepting cryptocurrency on its U.S. site. And in June, the Swiss luxury watchmaker, owned by LVMH, added a smartwatch connection to its cryptocurrency wallet. Thus, NFT owners can use purchased images as a screensaver.
The new functionality is available in the Connected Calibre E4 model. Still, NFTs can also be installed through a free update for smartwatch owners through the Apple App Store and Google Play Store. Using NFTs is available through both the Metamask Wallet and Ledger Live.
What? Virtual sneakers?!
Nike and RTFKT released a collection of 20,000 NFT sneakers called Nike Dunk Genesis Cryptokicks. Owners can render them in the real world using a Snapchat filter.
Dolce & Gabbana Surprise Boxes
In partnership with UNXD, Italian fashion house Dolce & Gabbana has released a unique set of virtual boxes — DGFamily NFT community — that give owners access to various benefits.
After the historic Collezione Genesi debut in September 2021, the journey now continues. @DolceGabbana announces the launch of the highly anticipated DGFamily NFT community exclusively in collaboration with UNXD.
More @ https://t.co/AlaTviffcp
Discord: https://t.co/HQDgqfXQUE pic.twitter.com/7tdwx5TT40— UNXD. (@UNXD_NFT) February 20, 2022
The Gucci movie for sale
Gucci auctioned off its Aria short film as an NFT. The four-minute video was created and shot by the brand’s creative director, Alessandro Michele, in collaboration with photographer Floria Sigismondi. The NFT went under the hammer at Christie’s auction for $25,000 in June 2021.
P.S. Crypto investors don’t chase luxury watches anymore
As you know, many once-rich crypto investors lost their savings due to the collapse of the cryptocurrency and NFT markets. But there is a twist: amid this sad event, many rare, expensive wristwatches that were previously impossible to find have come on sale. These are, for example, the Rolex Daytona or the Patek Nautilus 5711A, said a statement by the online platform Chrono24 via Bloomberg.
The recent collapse in the value of cryptocurrency “directly affected the prices of high-end brands such as Rolex and Patek Philippe,” the company said.
The drop in prices of previously sought-after models is the latest indication that the once booming market for used luxury watches is slowing down. When the value of cryptocurrencies skyrocketed last year, a new class of luxury buyers emerged, leading to unprecedented price increases for rare collectible models from famous brands like Rolex, Audemars Piguet, and Patek.
The price of the Patek Philippe Nautilus 5711A watch, which retails for about $35,000, rose to $240,000 in the first quarter, and now the model with the blue dial has dropped in price to $190,000.
According to Finbold, the price index for luxury watches fell from $23,000 to less than $20,000 between May 3 and July 8.
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