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Tiffany's sells out custom Cryptopunk 'NFTiff' pendants for $50,000 each

On Friday, Tiffany & Co debuted and quickly sold out a limited collection of 250 custom jewel-encrusted pendants for holders of CryptoPunks, a popular early non-fungible token collection.

CryptoPunks was launched in 2017 and consists of 10,000 unique 8-bit-style generated characters stored on the Ethereum blockchain. The collection is "essentially the cave paintings of Web3 art," said Noah Davis, CryptoPunks' new brand lead and former head of digital sales at Christie's, in an interview with CNN. "We're talking about the earliest successful, and enduringly so, community-based NFT project."

Tiffany sold 250 "NFTiffs," digital passes which can be minted and redeemed for custom-designed CryptoPunks pendants and a matching NFT art piece, according to their website and Twitter. To buy an...

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