Physical versions of Tiffany’s ‘NFTiff’ diamond pendants are finally arriving at customers’ doors.

The collection was launched last year by the luxury jewelry firm, which offered the diamond-encrusted pendants to CryptoPunks holders for 30 ETH, or about $50,000 at the time. The 250 available NFTiffs sold out within 20 minutes of its debut on August 7, generating $12.5 million for the company.

The creation of this so-called “phygital” item, a physical item with a digital counterpart, revealed key information for brands producing this type of product, Deepak Thapliyal, CEO of blockchain technology company Chain, told The Block.

“NFTiff was a very successful project that brought a prominent luxury brand to Web3,” he said. “We sold out in minutes and customers were able to create a 1/1 pendant to match their CryptoPunks which they are now starting to receive all over the world.”

Chain partnered with Tiffany’s in August to facilitate the launch of NFTiffs.

Engagement with the client

Thapliyal said the unique nature of NFTiff extended the production and delivery period for the pendants, giving the company insights into customer and community communication.

“Brands must be willing to listen and react to feedback provided by the community during the course of the project,” he said. “They should also prioritize the NFT component in the same way as the physical good to provide the best user experience possible.”

Customers who received pendants seem to be pleased with the results.

“It’s beautiful and I just wore it for the first time,” an NFT influencer who goes by Gmoney.eth told The Block. “I plan to use it a lot.”

To see in Twitter.

CryptoPunks remains one of the most valuable NFT projects of all time. The collection has a trading volume of more than 1 million ETH among 22,000 transactions, according to the OpenSea NFT marketplace. However, CryptoPunks’ bottom price is second only to Bored Ape Yacht Club, The Block’s data dashboard shows.

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