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Highlights
- Tiffany’s NFTs are priced in cryptocurrency and can be minted on the brand’s own official webpage
- The digital asset will also give the holder a CryptoPunk-linked physical piece of jewellery
- Nickelodeon’s digital assets, launched last month, are also trending in the NFT world
Are non-fungible tokens (NFTs) only digital? Or, can any NFT also represent a physical item, for example, a piece of jewellery? The digital and physical worlds are finally finding some common ground, and a new NFT collection is a testament to this fusion.
But before we explore a new collection that has both digital and physical attributes, let us take a look at NFTs’ close cousin, cryptocurrencies. As of writing, Bitcoin is over US$23,000, and Ether is over US$1,600. Usually, the same sentiments shape both NFTs and cryptos. This could mean that the recent surge in prices of cryptos might also reflect in NFT assets.
Now, let us explore two of the latest NFTs on the block, one of which has a physical aspect as well.
1. Tiffany & Co. NFTs
Tiffany NFTs are a collection by New York City-based luxury jewellery retailer Tiffany & Co. The brand is extremely popular among the masses across the globe, no matter the high-price tag attached with it. The brand’s collection has 250 “digital passes” or “NFTiffs”, which come at a pre-determined price of 30 ETH (Ether, or approximately US$48,000).
Tiffany is a little different from usual NFTs as it has the benefit of getting a physical item. Tiffany says that every digital pass can be converted into physical jewelry. The brand has collaborated with one of the biggest NFT players, CryptoPunk. Two hundred and fifty assets of Tiffany’s collection will be linked to CryptoPunk assets, and a physical pendant in gold and other precious metals will accompany it.
Tiffany has said that the minting of assets could be done starting August 5, and a single user could acquire no more than three NFTs. The physical pendant will be delivered in 2023 with a gold chain.
Also read: A look at two trending NFTs -- Crazy Monkeys & Gutter Cat Gang
2. Nickelodeon NFT
The other set of digital asset collection making noise in the NFT verse right now is Nickelodeon. The brand, famous among children, has 10,000 NFTs. Each character represented by these NFTs can be ranked using what Nickelodeon says “rarity curve”.
Nickelodeon has made an arrangement where the collection gets narrowed down at each level. Character NFTs can earn Slime NFTs, which are 5,000 in number. Further, slime NFTs can earn Mashups (combination of two characters), which are 500 in number. A separate set of 12 “super rare” Character NFTs were auctioned on OpenSea in mid-July. The Mashups went live on July 29, where Slime NFT holders could get hold of them.
Bottom line
Tiffany’s NFT collection has physical items as well. Will these 30 ETH-worth assets pique the interest of NFT enthusiasts is yet to be seen. Also, how the above two collections perform against previous high-ticket auctions like some of Beeple’s artworks will become clear with time.
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