Tiffany & Co. has added an interesting new wrinkle to the conversation around NFTs, proving once and for all that they’re definitely worth more than the paper they’re not printed on – provided a luxury jeweller transforms them into a real-life pendant first.
Previously, the firm’s vice president Alexandre Arnault hasn’t been shy about his fondness for the Web 3.0 community and now he’s taken that affection even further. Drawing inspiration from his own Cryptopunks NFT – one of 10,000 characters with proof of ownership stored on the Ethereum blockchain – Arnault has unveiled a one-off Tiffany & Co. pendant that, unlike its digital counterpart, will leave you in no doubt as to the source of its value.
Constructed from rose gold and enamel, the pendant features 3D glasses made of a sapphire and a Mozambique baguette ruby, while a yellow diamond stands in for the Cryptopunk’s round earring. Both the Tiffany & Co. name and the NFT’s #3167 number are engraved on the reverse.
Arnault revealed the one-off release on Twitter, where he uses an image of the original Cryptopunk 3167 as his profile picture. According to Vogue Business, Arnault’s Cryptopunk was purchased earlier this year for ETH 160, which is equivalent to approximately AUD$661,000.
When punks go wild at @TiffanyAndCo
Rose gold and enamel Cryptopunk.
Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.
— Alexandre Arnault (@alexarnault) April 7, 2022
Tiffany & Co. has previously flirted with Web 3.0 and the Metaverse, having teased its own Tiffcoin cryptocurrency on April 1. While the crypto element was, indeed, an April Fool’s prank, the Tiffcoin did turn out to be a real, limited-edition gold coin that customers had the opportunity to purchase.
With Arnault clearly having a passion for blending new digital technologies with the real world, we’ll certainly be keeping an eye out for what he comes up with next. In the meantime, if all of this made little to no sense, now would be a good time to check out our guide to NFTs.