Singapore markets open in 1 hour 9 minutes
  • Straits Times Index

    3,151.56
    -1.67 (-0.05%)
     
  • S&P 500

    3,744.52
    -38.76 (-1.02%)
     
  • Dow

    29,926.94
    -346.93 (-1.15%)
     
  • Nasdaq

    11,073.31
    -75.33 (-0.68%)
     
  • BTC-USD

    19,951.72
    -197.80 (-0.98%)
     
  • CMC Crypto 200

    456.11
    -7.01 (-1.51%)
     
  • FTSE 100

    6,997.27
    -55.35 (-0.78%)
     
  • Gold

    1,720.20
    -0.60 (-0.03%)
     
  • Crude Oil

    88.86
    +0.41 (+0.46%)
     
  • 10-Yr Bond

    3.8260
    +0.0670 (+1.78%)
     
  • Nikkei

    27,311.30
    +190.80 (+0.70%)
     
  • Hang Seng

    18,012.15
    -75.82 (-0.42%)
     
  • FTSE Bursa Malaysia

    1,420.43
    -0.12 (-0.01%)
     
  • Jakarta Composite Index

    7,076.62
    +1.24 (+0.02%)
     
  • PSE Index

    5,934.27
    -54.32 (-0.91%)
     

Tiffany & Co. teases NFT drop, custom CryptoPunk pendants

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.

[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.