After partnering with Tiffany & Co., sales of CryptoPunk NFT go up by 248%
After partnering with Tiffany & Co., one of the first NFT businesses, CryptoPunks’ sales have grown by over 248% in just 24 hours.
The NFT World now includes Tiffany & Co
The CryptoPunk collection sold 1,279 ETH, or about $2.16 million, the day before, according to CryptoSlam. NFTPriceFloor says that in the last 24 hours, only 123 ETH worth about $200,000 were sold.
The rise in sales is due to a tweet Tiffany & Co. sent out on Sunday. In it, they announced that they were making a new line of NFTs called NFTiffs. The offering would be a series of digital and physical pendants that look just like the NFTs that CryptoPunk holders already own.
On Twitter (NYSE:TWTR) on Sunday, Tiffany said, “We’re taking NFTs to the next level,” Tiffany wrote on Twitter (NYSE:TWTR) on Sunday. “Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant.” Depending on the NFT’s color scheme, the 18k rose or yellow gold will be used to make the CryptoPunk pendants. Tiffany said that the NFTiffs NFTs will be released on August 5 and will cost at least 30 ETH per unit, which is about $50,000.
When Tiffany & Co. bought an Okapi NFT from Tom Sachs in March, it was the first time the company had bought an NFT. The NFT is now the Twitter profile picture for the company.
We are giving NFTs a better status. NFTiff turns your NFT into a unique pendant made by craftspeople at Tiffany & Co. A NFT version of the pendant will also be given to you. Read further: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4.
A famous NFT project
Larva Labs made CryptoPunks, which is a collection of 10,000 photographs made by an algorithm and tokenized as NFTs on the Ethereum blockchain.
The project gave rise to the current CryptoArt movement.
The sudden rise in popularity of CryptoPunk brought in CEOs from Silicon Valley, well-known YouTubers, professional poker players, and influential business leaders.
In 2021, VISA bought a CryptoPunk for $150,000 in ETH, which shows that its big players can spot trends.
On the back,
The floor prices of NFTS can be unpredictable, and some NFT projects have failed, but CryptoPunks have been mostly stable.
Why You Should Give a Damn
In 2022, more than $2 billion worth of CryptoPunk was sold.
Many people think it’s just an online trend that will end soon. Still, projects like BAYC and CryptoPunks have a lot of weight in the metaverse. Companies like Microsoft (NASDAQ:MSFT) and Meta say that these projects are the avatars that we will one day own and use to talk to each other online.
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