In the past, the world-famous jewelry brand Tiffany & Co. He announced that he would take a step to make a quick entrance to the NFT world, and then he made a quick introduction.

NFTs Sold at Tiffany's 30 Ethereum Sold Out in 20 Minutes

Tiffany & Co. He released his entire 250-piece NFT collection in about 20 minutes on Friday and soon sold out. Each NFT was sold for 30 ETH. The company generated approximately $12.5 million in revenue after this sale.

tiffany&Co-1

Tiffany's NFTs grant CryptoPunk NFT holders exclusive digital availability and what they call "NFTiffs", which gives them the right to transform their NFT into a special necklace containing gemstones and diamonds. NFTiffs are powered by blockchain technology firm Chain.

According to information shared on Tiffany's website, NFTiff purchasers must redeem their tokens by August 12. As for the special necklaces, which are the main logic of this collection, those who make the purchase as NFT are scheduled to be delivered to the buyers early next year. It's also worth paying attention to! If an NFTiff owner sells his token before a necklace is shipped, he will not be able to receive the necklace, according to the website, and each customer is entitled to a maximum of three NFTiffs on sale.

tiffany&-1

With Tiffany selling NFTiffs quickly, the lowest purchase price is now slightly lower than the initial sale price of an NFTiff. According to tracker NFTGo, the current base price is around 27 ETH or $46,000, which could mean a slight loss for holders. However, although this situation is seen as a withdrawal at the moment, there may be extra acceleration in price with the brand's name and the utility that it can remove in the future.

According to NFTGo, there have also been resales of NFTiffs whose trading volume has reached over $1 million in the last 24 hours. According to Chain CEO Deepak Thapliyal, Tiffany & Co. He has a “clear and forward-thinking vision” for Web3. Thapliyal said on Saturday's Wweet that the company "made history" thanks to NFTiffs.