The “NFTiff” diamond pendants from Tiffany are now reaching consumers’ doorsteps.
The collection was introduced by the high-end jewelry company last year. They once sold pendants with diamonds to cryptopunks for 30 ETH, which was equivalent to about $50,000 at the time. On August 7, there were 250 NFTiffs available; they were all sold out in 20 minutes, earning the company $12.5 million.
As Deepak Thapliyal said CEO of blockchain technology company Chain, the development of this “phygital” item—a physical object with a digital counterpart—shows crucial information for companies that produce this kind of product.
His statement that “NFTiff was a very successful project that brought a well-known luxury brand to Web3” was accurate. Customers were able to create 1/1 pendants to match the cryptopunks they are now receiving from around the world because we sold out in a matter of minutes.
The chain and Tiffany collaborated to launch NFTiffs in August.
customer engagement
According to Thapliyal, the NFTiff’s uniqueness made it more difficult to produce and ship the pendants, but it also taught the business new ways to interact with the public.
He said that brands must be receptive to community feedback and responsive to it. If they want to provide the best user experience, they must also give the non-physical good equal weight with the physical good.
Customers who purchased pendants appear pleased with the final product.
“It’s beautiful and it’s the first time I’ve worn it,” an NFT Influencer who goes by Gmoney.eth told The Block. “I plan on wearing this a bunch.”
A special delivery arrived on the final day of 2022! pic.twitter.com/ouURw4KXLE
— gmoney.eth (@gmoneyNFT) December 31, 2022
Cryptopunks is one of the most valuable NFT projects ever created. The collection has over 1 million ETH worth of trading volume across 22,000 transactions, according to NFT marketplace OpenSea. The only app with a lower price than Cryptopunks, as shown In the Block’s data dashboard, is Yacht Club.
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