Tiffany & Co. NFT drop raises $12.5 million after instant sellout
The world-famous luxury jeweler launched its first NFT collection today, a series of 250 CryptoPunks-inspired digital passes dubbed “NFTiffs”. The collection sold out in around 20 minutes, bringing in over $12.5 million.
Despite cooling conditions in the crypto market, the NFT sector has shown some resilience over the last year, with several established brands making moves to establish a footing in the space. Tiffany & Co. is just one of many luxury brands to leap into Web3 in recent months, with notable others including Gucci and Louis Vuitton.