Tiffany & Co. has taken the plunge into the world of NFTs with the release of a one-of-a-kind jewelry pendant. The piece, which is called "Tiffany & Co. Unbreakable Love," is a replica of a cryptopunk character and is currently up for auction on Foundation, an online marketplace for digital art and collectibles.
The starting bid for the pendant is 1 ETH, and the current highest bid is 6.5 ETH. The auction will continue until June 10th, 2021 at 4:00 PM EDT.
This isn't Tiffany & Co.'s first foray into the world of blockchain technology. In 2019, the luxury jeweler partnered with IBM to develop a blockchain platform that would track the provenance of diamonds and other precious stones.
With the release of the "Tiffany & Co. Unbreakable Love" pendant, the jeweler is once again demonstrating its commitment to innovation and its belief in the potential of blockchain technology.
What do you think of Tiffany & Co.'s latest release? Let us know in the comments below!