Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    63,937.33
    +2,590.73 (+4.22%)
     

  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • Dow

    37,986.40
    +211.02 (+0.56%)
     

  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     

  • Gold

    2,406.70
    +8.70 (+0.36%)
     

  • Crude Oil

    83.24
    +0.51 (+0.62%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Tiffany & Co. teases NFT drop, custom CryptoPunk pendants

Yahoo Finance Video

Yahoo Finance anchors discuss luxury jeweler Tiffany & Co. diving into the crypto world.

Video transcript

[MUSIC PLAYING]

BRAD SMITH: Welcome back, everyone. Time for Cut For Time, three stories, one minute each. We start with this. Luxury jeweler Tiffany & co is teasing an F Tiff. This is an exclusive NFT drop, most notably for CryptoPunks NFT owners. Now, buying a digital pass allows the holder to redeem it for a digital pendant that then matches the likeness of a CryptoPunk NFT. CryptoPunk holders will be eligible to redeem the pass for a physical pendant.

Some of the other details on this because it has a hefty price tag as well here. 250 NFTs going to be minted. Each costing around 30 Ethereum. Yes, you heard that correctly, 30 Ethereum. Now, that's about $50,000 in Fiat currency here.

ADVERTISEMENT

[LAUGHTER]

Nope, not a buyer?

BRIAN SOZZI: Julie, take it away. [LAUGHS]

JULIE HYMAN: I will-- I don't even know what to say to this.

BRAD SMITH: Your really want to have a CryptoPunk pendant, like you know, Kanye has this Jesus piece, other people would have their--

BRIAN SOZZI: You know, the funny thing is-- or interesting thing, when LVMH closed this deal for Tiffany for $16 billion, I don't think NFTs were a thing. So maybe they're just looking for all ways to try to extract value from that big, splashy purchase.

JULIE HYMAN: Yeah, I don't-- I just, why? why?

BRAD SMITH: Why for a lot of them.

BRIAN SOZZI: I want them to make better watches. I mean, their watch section is terrible. I mean, they've been really underperforming watches for so long. Do a better job there first before getting into NFTs.

JULIE HYMAN: You can just get a virtual crypto watch.

BRIAN SOZZI: Oh, yeah, yeah, I'm on it. All right.