On August 5, 2022, American luxury jewelry retailer Tiffany&Co. announced that its “Nftiff” non-fusible token (NFT) mint had sold out. Tiffany sold 250 Nftiffs at 30 ethereum per Nftiff, bringing in over $12.5 million. The NFTs made by Tiffany must be redeemed by August 12, and so far 94 Nftiffs have been redeemed.
Tiffany & Co. NFT sale raises $12.5 million in Ether and sells out
Six days ago, Bitcoin.com News revealed that Tiffany & Co. Co. unveiled an NFT mint called “Nftiff,” a new Tiffany product that combines non-fiat token technology with fine jewelry. Since then, Tiffany & Co. has hosted its sale, and according to atweetpublished by the company on August 5, all 250 NFTs have sold out
Each NFT, aka Nftiff, sold for just over $50K per 30 ether or NFT on Friday. Together, the sales netted more than $12.5 million for the fine jewelry retailer. “All 250 Nftiffs were sold out. Until the next mint,” Tiffany wrote Friday. Dataderived from Dune Analytics shows that 94 Nftiffs have been redeemed so far by a total of 73 Cryptopunk NFT owners. On the same day as the sale, Tiffany’ssaid:
Nftiff couldn’t be easier: buy an NFT from the Nftiff gateway, select Cryptopunk, and Tiffany’s artisans will transform it into a custom-made pendant.
Nftiffs are sold on the secondary market for less than the original selling price
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According to cryptoslam.io’s index, original Nftiff sales and secondary market sales achieved the top NFT collection ranking by sales volume over the past seven days. 182 Nftiff NFTs are stored in 48 active wallets 299 transactions to date from two owners.Cryptoslam.io data andnftgo.io metricsshow that there have been several secondary sales set at or below Tiffany’s original asking price.
Both NFT analysis sites show that Nftiff sales are as low as 27 ether, with some drops at 27.5 and 27.8 ETH per Nftiff. This means the owner sold Nftiff at a loss on the secondary market, as in; Nftiff #42,sold for 27 ether or just over $46K 19 hours ago. Now, as of writing on Sunday at 2pm EST, Nftiff’s floor price is back to 30 . ETHthat Nftiff originally sold for during Tiffany’s sale.
Image credits: Shutterstock, Pixabay, Wiki Commons, Tiffany & Co. Nftiffs