The sales volume of the popular non-fungible token (NFT) collection, CryptoPunk, surged by nearly 1000% over the last 24 hours.
According to data from CryptoSlam, an NFT aggregator that publishes sales data for top NFT collections, four large Punk sales were recently conducted, the highest worth about 600 ETH (approximately $972,000 as of press time). The transactions pumped the sales volume of the collection by 900%.
The total number of Punks sold since its invention is valued at more than $2.3 billion dollars. It ranks CryptoPunk as the second most sold NFT collection, with Bored Ape Yacht Club (BAYC) taking the first position.
Launched in June 2017, CryptoPunk is a popular Profile Picture (PFP) NFT collection made up of 10,000 uniquely generated digital characters. Although developed by Larva Labs, the project was purchased earlier this year and is presently owned by Yuga labs.
Tiffany & Co. Unveils NFT for CryptoPunk Holders
The jump in the sales volume of CryptoPunk comes after the Luxury Jewelry brand, Tiffany & Co., announced that it had partnered with blockchain firm Chain to launch its first NFT collection dubbed “NFTiff.”
NFTiff is the digital form of the pendant which will first be sold, as an NFT, and then used by holders to redeem the physical pendant in 2023. Each pendant comes with a necklace (chain). On their website, Tiffany & Co pointed out that they would commence the sales of a new customized necklace pendant on the 5th of August, 2022.
The NFT collection has a limited supply of 250 custom-built pendants. The pendants designed with materials like gemstones, enamel, and gold will sell for about 30 ETH (close to $49K). The cost of the NFT, the custom pendant, the chain, and shipping/handling are all included in the fee.
The company also noted that only CryptoPunk holders could acquire NFTiff.
“We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans…”
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