New NFT Collection Available By Luxury Brand Tiffany Sold Out In Minutes!

American luxury jewelry dealer Tiffany & Co. It launched all 250 non-fungible tokens (NFTs) on Friday and sold them all in about 20 minutes.

Tiffany’s NFTs Sold at 30 Ethereums Sold Out in 20 Minutes

30 per NFT Ethereum (ETH) that is, it was sold for approximately $50,000, generating approximately $12.5 million in revenue for the company.

Tiffany’s NFTs are called “NFTiffs” and are offered exclusively to CryptoPunk NFT owners. However, these investors can turn these NFTs into special coins containing precious stones and diamonds. NFTiffs are backed by Blockchain technology firm Chain.

According to Tiffany’s website, NFTiff purchasers must redeem their tokens by August 12. As for custom necklaces, these are expected to be delivered to buyers early next year. According to the website, if an NFTiff owner sells his token before shipping the necklace, he will not be able to get the necklace. In the sale, each customer was entitled to purchase up to three NFTiffs.

While the company’s NFTiffs were quickly exhausted, the base price, which represents the lowest price of these NFTs on sale, decreased compared to the first price. At the time of this writing, the base price of the collection products in question is trading at 27 ETH, or approximately $46,000.

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.

*Not investment advice.