Just days after the debut, Tiffany’s CryptoPunk NFTs are already being traded.
When non-fungible token trading (NFT) has reached record lows, Tiffany’s non-fungible tokens, known as NFTiffs, are already being traded at a profit, according to data collected on the blockchain.
One user seems to have resold a Tiffany x Punk NFT for 55 ETH, a gain of more than 80 percent from the mint price.
This week, Tiffany’s debuted their unique NFTiff collection for the CryptoPunk NFT community, sponsored by the blockchain solutions provider Chain. Alexandre Arnault, the son of wealthy LVMH chairman Bernard Arnault, is a CryptoPunk holder and contributed to the project’s inception.
There are 250 of these tokens available, which CryptoPunk holders may spend to get a bespoke necklace featuring NFT artwork. The price of each pass is 30 Ethereum, or $50,000. Up to three keys may be purchased per wallet.
The firm encouraged 100 Punks to purchase their passes in advance; however, it is uncertain how this number was decided. When reached by The Block, media representatives for Chain refused to comment.
According to statistics obtained by Dune, seven of the one hundred newly minted NFTiffs are adorned with earrings, making this the most prevalent attribute among Punks carrying NFTiffs.
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