CryptoPunks’ trading volume surges 1,847% after Tiffany & Co. launches exclusive NFT collection
2022.08.02 05:14
CryptoPunks’ trading volume surges 1,847% after Tiffany & Co. launches exclusive NFT collection
On Monday, the trading volume of CryptoPunks, one of the sector’s most popular nonfungible token (NFT) collections, surged by 1,847% over 24 hours. Over $1,226.68 Ether (ETH) worth of Punk NFTs was traded during that time. The surge in interest appears to be tied to luxury jewelry retailer Tiffany & Co. launch of its own NFT collection, which has a special perk for Punk holders.
Dubbed “NFTiffs,” the collection consists of 250 digital passes. Anyone can purchase NFTiffs, which are minted on the Ethereum blockchain. However, CryptoPunk holders can redeem the NFT for a customized-jewelry experience. After purchase, Punk holders can elect to receive a custom-designed pendant and an NFT digital artwork that resembles the final jewelry design. These are crafted by the company’s in-house artisans and inspired by the Punks NFT collection.
