Tiffany is selling custom CryptoPunk pendants for $50,000 | Big Indy News
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Tiffany is selling custom CryptoPunk pendants for $50,000

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For about $50,000 (30 Ethereum), CryptoPunk holders can get a handcrafted pendant modeled after their NFT (non-fungible token) from Tiffany & Co. — and no, this is not a joke (via Decrypt). The pendant, which will feature “at least” 30 diamonds or gemstones, will hang on an 18K gold chain with five pave diamonds on the clasp.

The offer is exclusive only to people who own a CryptoPunk, aka the odd pixelated avatars you keep seeing on Twitter (no, not those ones, the other ones). But don’t let the overly simplistic art fool you — the average cost of these things is about $200,000, even after several months of declining sales activity for the market overall. There are only 10,000 CryptoPunk designs, and now you can get your very own transformed into a custom, gem-laden pendant (if you’re rich enough to be able to afford the NFT or the pendant in the first place).

Tiffany & Co. has experimented in the world of Web3 in the past. In March, it announced its purchase of a $380,000 NFT that looks like a children’s drawing (sorry, not sorry). Tiffany later debuted its “TiffCoin” cryptocurrency as an April Fool’s Day joke. While the cryptocurrency never actually existed, the joke served as a marketing ploy for Tiffany’s actual, limited-edition 18K gold coins. Even in this instance, the jeweler is interestingly targeting existing NFT holders as potential customers instead of trying to market NFTs to the people who buy its traditional physical products,

Tiffany’s NFTiff pendant joins a growing number of high-end products that come with NFTs attached. Last month, Chevy tried auctioning off an NFT bundled with a free 2023 Corvette, which netted zero bids, and Alfa Romeo started including an NFT with its new Tonale SUVs.

Tiffany says it will work to create a pendant “with the highest fidelity” to the original CryptoPunk art. It lays out all the details on this FAQ page, where it gets really serious about how it plans on crafting this NFT-inspired piece of jewelry.

“For example, to create the 3D glasses, Tiffany designers will leverage baguette stones,” Tiffany explains. “CryptoPunk colors are represented as closely as possible using the natural colors of various gemstones.” It’s just kind of funny that an actual, professional jewelry-maker had to sit there and try to figure out how they will recreate a pair of pixelated 3D glasses on a pendant.

You can get an idea of what a CryptoPunk pendant might look like from these photos shared by Tiffany’s EVP, Alexandre Arnault. He shows off a very pixel-ly pendant that, indeed, does resemble the one on his Twitter profile picture. It also has the CryptoPunk number engraved on the back.

Tiffany’s pricey trinket will come with an “NFTiff,” the jewelry maker’s “clever” name for an NFT. It’s only selling 250 NFTiffs, which Tiffany says CryptoPunk holders can mint and redeem once purchased. The NFTiffs, and their respective pendants, go on sale on August 5th at 10AM ET on Tiffany’s dedicated NFT website.



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Tuesday’s top tech news: Elon squares off against Apple

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Oh Elon. It was pretty obvious something was up when Twitter’s new CEO tweeted out of the blue that “Apple has mostly stopped advertising on Twitter,” and asked whether “they hate free speech in America?” Following a question from my colleague Jake Kastrenakes, Musk confirmed that the iPhone maker was threatening Twitter’s presence in the App Store and/or making moderation demands. Welcome to hell, Elon.

Away from the chaos at Twitter there was more bad news in the crypto sector with the news that finance firm BlockFi has filed for bankruptcy amidst the continued FTX fallout, while crypto exchange Kraken has agreed to pay hundreds of millions of dollars in fines over possible Iran sanction violations. Thank god we’ve got another trailer for The Super Mario Bros. Movie to look forward to later today.

For now, here’s a silly tweet:

Stay tuned, as we continue to update this list with the most important news of today: Tuesday, November 29th, 2022.



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‘No Cooperation’: How Sam Bankman-Fried Tried to Cling to FTX

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“Sam this is an excellent pick and I wholeheartedly hope you sign this tonight,” Mr. Dexter wrote in an email on the evening of Nov. 10. “The faster John is in place, the faster the company can resolve issues that require urgent progress.”

A flurry of emails followed. In a message at 3:38 a.m. on Nov. 11, Mr. Miller asked for an update on Mr. Bankman-Fried’s decision. “I am chatting with Sam,” responded Ken Ziman, a lawyer at the firm Paul Weiss who was representing Mr. Bankman-Fried.

Ten minutes later, Mr. Ziman confirmed that Mr. Bankman-Fried had signed the document, authorizing Mr. Ray to take over FTX. The company filed for bankruptcy a few hours later.

The filing was hardly the end of the chaos. The court submission listed more than 130 corporate entities tied to FTX, including its U.S. arm and Alameda, the hedge fund. But the filing was inaccurate: Some of the entities were not owned by the exchange. They belonged to AZA Finance, a separate company that had recently become partners with FTX to promote crypto in Africa.

FTX later acknowledged the error. But in a Nov. 11 Slack message to Mr. Miller and other officials, Elizabeth Rossiello, the chief executive of AZA Finance, called the mistakes in the bankruptcy filing “a storm of wild irresponsibility.”

“This is hurting 9 years of work we have done to create this platform!!” she wrote.

Mr. Miller responded defensively. “We had no cooperation of the founders in preparing this week,” he said. “It was unfortunate.”

Mr. Bankman-Fried was also frustrated. Despite giving up control of FTX, he continued contacting possible investors about new funding for the exchange. In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”

He presented no evidence for that claim, and in any case, FTX was no longer his company to run. On the morning of Nov. 11, Mr. Miller moved quickly to make that clear, requesting the deletion of information about the firm’s old leadership from its website.



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The best Cyber Monday deals available now

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Below, we’ve rounded up the best Cyber Monday deals you can currently get, whether you’re in the market for a 4K OLED, a gaming laptop, or another piece of big-ticket tech that would normally require you to shell out your entire paycheck. We’ve included a number of budget-friendly items, too, just in case you’re looking for chargers, a cheap(er) pair of earbuds, or other essential gadgets to round out your arsenal.

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