Latest NFTiff by Tiffany & Co. News

Holders of NFTiff were reminded to "check your inbox" on Oct. 26 for a "first look" at their pendants, according to a tweet from Thapiyal, whose company handled the mint and redemption mechanics for the drop.

The preview image for the pendant for CryptoPunk No. 387 showed the front and the back of the item, with a list of the gems included in the piece.

The pendants minted for 30 ETH (about $48,560) back in August. There was 1,984 ETH in volume on the collection before the redemption window closed. 

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Total Volume (6 Hours)*

• 8liens (297 ETH, 0.26 ETH Floor Price)
• CyberBrokers (170 ETH, 1.65 ETH Floor Price)
• Pudgy Penguins (156 ETH, 2.99 ETH Floor Price)
• NFTiff (112 ETH, 24 ETH Floor Price)
• Bored Ape Yacht Club (85 ETH, 82.75 ETH Floor Price)

Floor Price Increase (6 Hours, 0.25 ETH Min.)*

• CyberBrokers (50%, 1.65 ETH Floor Price)
• DogeArmy by ShibaDoge (43%, 0.50 ETH Floor Price)
• Worldwide Webb Land (25%, 0.54 ETH Floor Price)
• RENGE Black Box (17%, 0.66 ETH Floor Price)
• Rags to Richie by Alec Monopoloy (16%, 0.29 ETH Floor Price)

Floor Price Decrease (6 Hours, 0.25 ETH Min.)*

• BEANZ Official (-12%, 0.53 ETH Floor Price)
• mcgoblin.wtf (-10%, 0.74 ETH Floor Price)
• Ledger Market Genesis Pass (-9%, 0.48 ETH Floor Price)
• Rare Apepe YC (-8%, 0.77 ETH Floor Price)
• Lazy Lions (-6%, 0.60 ETH Floor Price)

For all volume and floor price data, see Lucky Trader's Project Rankings page.

For all NFT news, see Lucky Trader's NFT News page.

*data retrieved at 9:30 p.m. ET.

Holders of Tiffany & Co.'s NFTiff NFT have until 9:00 p.m. ET to redeem their NFT for a physical CryptoPunk pendant according to the project website. 

While it was not necessary to own a CryptoPunk NFT to purchase NFTiff, only owners of a CryptoPunks NFT can redeem it for the physical pendant. 

The market for flippers and eventual redeemers has added volatility to the NFTiff floor price over the last week. Since minting at 30 ETH last Friday, the floor had fallen into the low-20s, and has been bought back up to 26.95 ETH at the time of writing. The 26.95 ETH floor price actually represents approximately a 13 percent gain over the last 24 hours according to our project rankings page. 

With just more than two hours remaining in the redemption window, 207 of the 250 NFTs have been redeemed for a physical CryptoPunk pendant. 

Haven't redeemed your pendant yet? Head to https://nft.tiffany.com and connect your wallet to select a CryptoPunk for redemption ahead of the 9:00 p.m. ET deadline. 

The physical NFTiff pendants are expected to ship in early 2023. Tiffany & Co. partner, Chain, will verify ownership of the NFTiff NFT prior to shipping the physical pendant. If you redeem an NFTiff pendant, but then sell the NFTiff, your order will be automatically voided.

For all volume and floor price data, see Lucky Trader's Project Rankings page.

For all upcoming mints, see Lucky Trader's Project Schedule page.

*data retrieved at 09:15 a.m. ET.

Users have been showing concern over the legal agreement Tiffany & Co. put together for its CryptoPunks pendant NFTs.

According to the official website, part of the legal agreement reads "By purchasing an NFTiff and linking it to your CryptoPunk, you grant Tiffany & Co., its affiliates, agents, and others working for it or on its behalf, an irrevocable, nonexclusive, royalty-free license to use your CryptoPunk and its underlying intellectual property, if any, to design, manufacture and sell the corresponding pendant including any and other Intellectual Property Rights." 

This has given users like @Helloimmorgan concerns that she will have essentially signed over the commercial usage of her CryptoPunks NFT to Tiffany & Co.

Another user by the name of @CryptoNFTs implies that Tiffany & Co. is "sucking the IP Rights off of NFT owners through their Terms of Service."

However, other notable names such as Deepak, the CEO of Chain, have said this is false and that "It’s a singular, *nonexclusive* license for a corresponding pendant. This way you can’t go later on suing anyone for making you your pendant or the next owner. Just a standard legal disclaimer" in a recent claim.

While all of the details for the agreement between the owner and Tiffany & Co. is laid out on the companies website, the jeweler has not yet made a public response to these claims.

The floor for NFTiff is down nearly 17 percent today and currently sits at 23.99 ETH floor price after being minted for 30.0 ETH yesterday according to the Lucky Trader Project Rankings.

Those interested in the project can read more about it in Lucky Trader's article about the drop.

More information about NFTiff can be found in our original reporting. 

Those with early access to Tiffany and Co.'s 250-edition collection of digital (and physical) CryptoPunk pendants are minting now.

Farokh, gmoney, Driftershoots, and Moonpay are just some of the early access wallets that had the opportunity to pay 30 ETH for each NFTiff. (Each early access wallet had an opportunity to buy three NFTs.)

Each physical piece will use a minimum of 30 gemstones/diamonds to create the custom designs, which the holder will see a preview of in October.

Holders of the NFTiff have until Aug. 12 at 9 p.m. ET to redeem their NFT for the physical.