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Tiffany & Co’s Recently Launched NFTs are Already Being Re-Sold

Just days after launch, Tiffany's CryptoPunk NFTs have already been 'flipped'...
Image by The Daily Encrypt

Just days after launch, Tiffany’s CryptoPunk NFTs have already been ‘flipped’
According to on Chain Data, Tiffany’s non-fungible token trading has fallen to record lows. However, NFTiffs (nicknamed Tiffany’s NFTs) are being flipped for profit at a time when NFT is struggling.

One user seems to have resold the Tiffany x Pink NFT at 55 Ethereum, more than 80% higher than the price at mint.

Tiffany’s revealed its NFTiff collection earlier this week. It was exclusively designed for the CryptoPunk NFT community powered by Chain blockchain solutions company. Alexandre Arnault is the son of Bernard Arnault (billionaire LVMH chairman) and was a CryptoPunk holder. He also helped to spearhead this project.

These tokens are available in 250 denominations. CryptoPunk holders have the option to purchase a custom pendant with NFT artwork using these tokens. Passes cost 30 Ethereum or $50,000. Customers can buy up 3 passes from one wallet.

The company invited 100 punks to purchase their passes early. However, it is not clear how this was done. Chain reached out to media representatives, but they declined to comment when The Block reached them.

Data compiled by Dune shows that the most common NFTiff-holding Punk trait is an earring. Seven NFTs of 100 were found to have this trait.

Tomorrow, the remaining 150 NFTiffs will be available for purchase.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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