Tiff and Company launches its own NFT collection

A new non-fungible token, or NFT, collection, designed by luxury American jewelry brand Tiffany and Company, will be released this week. It will feature virtual and physical pendants designed for owners of CryptoPunks.

How smart money is playing the game of criptocurrency.

The collection was named NFTiff, with each of the 250 NFTs valued at a price of 30Ethereum equivalent to more than $51,000 at today's price. The infrastructure behind NFTiffs is powered by a company called Chain, which has raised more than $40 million from Visa, Citigroup, Orange and other investors.

The custom NFTs are just the latest Web 3 related venture for the jeweler. Tiffany and Company spent $380,000 on an Okapi NFT from American artist Tom Sachs earlier this year, which is now used as its default Twitter picture.

On April Fools' Day, the jeweler unveiled a limited-edition set of 499 gold TiffCoins, which were engraved. After dismissing rumors that it was starting its own criptocurrency, the brand said that these 18 k gold coins are a modern version of our Tiffany Money and celebration of our history. During the same month, it also showed off a pendant that looked like CryptoPunk 3167, owned by the company's executive vice president of products and communications, Alexandre Arnault.