If Tiffany & Co. wanted to use NFTs/Blockchain, they could’ve integrated the technology in their supply chain to authenticate products, they could sell NFT gated physical experiences for physical buyers, they could start a digital community, etc.
This is a corporate cash grab.
@TaylorGerring
They’re choosing the wrong village to make their forray into the space. There’s a lot more they could’ve done that would’ve been dramatically more impactful, that’s my point.
@sxtvik
Satvik I love you my fren but this is just a bad take. It’s a limited edition drop for Punks, who love it and will make it to sell out instantly.
@miguelfaus
Good for the buyers lol. They’re not getting 30 ETH of value from everything that’s been shared so far. But I wish everyone involved luck nonetheless.
@sxtvik
For 30 ETH, T&C better have an experienced team who’s well prepared to deliver something highly sought after. At least you’d hope. 250 supply is very little given their reach. If it’s tied to a dope, unique physical collection, price and supply could be reasonable. We’ll see 🤷🏾♂️
@sxtvik
If they find their 250 buyers they'll have cash grabbed $11 Mil before taxes.
Not exactly a great haul for a brand like Tiffany's, esp considering what a proper entry to web3 could do for them.
Old brands entering the new world with Mr. Magoo energy. Many such cases.
@sxtvik
They're a jewelry company and they're selling a jewelry pendant based on art that happens to be from a NFT collection, what's so wrong with that...?
@sxtvik
Or this is probably just a very minute experiment from them? 250 pieces times 30 eth = 7500eth. Definitely a lot of capital, but their physical products sell out more and been doing so since years. $3.66B revenue in 2020, so 7500eth seems more or less experiment there.
@sxtvik
I actually think this is way bigger for web3 than people realize fashion and Lux world because a whole diff thing in the last 10 years coz of pop culture
To see a lux brand do this for a web3 native brand is super bullish for nfts culture