CryptoPunks’s Trading Volume Increased 1,847% When Tiffany & Co. Debuted Its Unique NFT Collection

One of the most well-liked nonfungible token (NFT) collections in the market, CryptoPunks, had an increase in trade volume on Monday of 1,847% over the course of a day. Punk NFTs were traded for almost $1,226.68 ETH during that period. The increase in interest appears to be related to the unveiling of Tiffany & Co.’s own NFT line, which offers Punk holders a particular benefit.

In addition, the trading volume of CryptoPunks has increased by 158.82%, with over 1,114 ETH worth of NFT CryptoPunks being traded during this time.

The 250 digital passes in the collection are referred to as “NFTiffs.” NFTiffs, which are issued on the Ethereum blockchain, are available for purchase by anyone. Holders of CryptoPunk, however, can exchange their NFT for a unique jewelry experience. Punk owners have the option of choosing to acquire a bespoke pendant and an NFT digital piece of art that resembles the finished piece of jewelry after making a purchase.

CryptoPunks has a floor price of 73.95 ETH

CryptoPunks has a floor price of 73.95 ETH, which means jewelry enthusiasts pay around $125,000 for an NFT and an additional 30 ETH for that NFT necklace creation if they wish. Join this unique experience.

Tiffany will make pendants utilizing at least 30 gemstones, including sapphires, amethyst, spinel, and diamonds, with their frames made of 18-karat rose or yellow gold, depending on the Punk NFT’s color scheme. By October, buyers will receive a rendering of their purchase, with physical delivery expected in 2023.

The price of each NFTiff is 30 Ether, which includes the price of the NFT, a unique pendant, a chain, as well as shipping and processing. The sale starts on August 5 at 10:00 am and ends on August 12 at 9:00 pm Eastern Time, with a cap of three passes per client.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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