New Dapps Report: NFTiff – NFTs turned into wearable jewelry

New Dapps Report NFTiffs
Other categories related to this article:
New Dapps Report

New Dapps Report: NFTiff – NFTs turned into wearable jewelry

In the August 2022 edition of DappRadar’s New Dapps Report, we dive deeper into NFTiff, which is climbing the NFT charts. The New Dapps Report is a detailed analysis of financial metrics for NFT collections with a solid appeal.

This New Dapps Report is part of a series of executive reports that provide readers with a high-level perspective of promising, generative NFT collections. The report focuses on financial metrics, including sales activity, price analysis, and distribution metrics like Unique Holders Ratio and Whale Concentration Index. It additionally dives into whales’ behavioral patterns and social and technical overviews. 

NFTiff is a collection of 250 NFTs, produced by the American luxury jewelry brand Tiffany & Co., in partnership with the blockchain company Chain. It is not the first NFT collection made by a luxury brand; Lamborghini, Louis Vuitton, Ray-Ban, and Gucci, had already released at least one NFT collection.

It was launched on the 5th of August, and each NFT is a digital pass exclusive to CryptoPunk NFT holders that give them the right to turn their NFT into a custom pendant, containing gemstones and diamonds.

Please do not consider this document as financial advice. 

Data updated on: Aug 13, 2022

Table of Contents

Key Takeaways

  • The collection sold out in 20 minutes after the launch, generating $12.5 million in revenue for the company
  • The collection’s price floor has appreciated by 97% since the mint
  • The unique holder’s ratio of the collection is 71%, one of the highest of an NFT collection
Source: DappRadar

NFTiff –  Floor price growth by 97%

Financial Overview

Blockchain: Ethereum

Launch date: August 5, 2022

Edition size: 250

Traits: 159

Attributes: 87

Floor price: 59 ETH ($ 117,245)

Source: DappRadar

The NFTiff collection was launched on the 5th of August, and the mint price was 30 ETH or  $50,000. It was sold out in 20 minutes, generating $12.5 million in revenue for the luxury jewelry company. 

Benchmark trading volume for NFT collections is above seven figures. The collection has a total volume of over $3.6 million or over 1,900 ETH. While this volume is below average based on previous New Dapps Reports, it is important to note that the supply of the collection is extremely limited at 250 pieces.

Initial financial metrics suggest that the market highly values the collection, given the company and usefulness behind the collection. On the first day of the launch, the trading volume reached $1 million, diminishing on the following days by almost 90%. Even if the trading volume decreased drastically, the average sale is stable and is currently at 24.4 ETH ($45,990), an 8% decrease from the mint price. However, the floor price has appreciated by 97% since the mint, currently 59 ETH ($110,906).

Added Utility – Crypto Punks turned into gold pendants

Tiffany’s NFTs, called “NFTiffs“, are special digital passes for CryptoPunk NFT holders that allow them to transform their NFT into a personalized jewel-encrusted necklace. NFTiff purchasers will also receive a “standalone custom 1 of 1 NFT on the Ethereum blockchain” that is tied to digital artwork resembling the final jewelry design. The tangible jewelry items are expected to be available for pass holders beginning in early 2023. If an NFTiff holder sells their token before the shipment of the pendant, then they cannot receive the pendant.

Each CryptoPunk consists of a unique mix of 87 traits and 159 colors. The latter will then be reflected in the personalized pendant. According to Tiffany’s claims, each item will be crafted from 18-karat gold and incorporate at least 30 precious stones and/or diamonds.

Source: thefashionlaw

In addition, acquiring an NFTiff and connecting it to your CryptoPunk grants Tiffany, its affiliates, agents, and other associated companies an irrevocable, non-exclusive, royalty-free right to utilize your CryptoPunk and its intellectual property to design, produce, and market the pendant.

It is important to note that Tiffany & Co. does not need permission from Yuga Labs in order to get such a license since Yuga indicated that it will “give IP, commercial, and exclusive licensing rights to the individual CryptoPunks NFT holders” when it purchased the CryptoPunks collection, from Larva Labs earlier this year.

Community Awareness and Engagement 

The collection doesn’t have its own Twitter or Instagram account, but it’s part of the Tiffany & Co community. Their Twitter account was activated in 2009 and currently has close to 1,8 million followers. 

The community engagement remains solid as the account grows daily by an average of 1,005 new followers, and in the past 30 days, it gained more than 30,000 followers.

They have a solid social media presence, with more than 13.5 M followers on Instagram, more than 10 million likes on Facebook, and 122,000 subscribers on the Youtube channel.

No official Discord is associated with the project and no fan-organized channels to our knowledge.

Source: DappRadar

The NFTiff collection has 100 unique traders, which is the lowest we’ve ever analyzed.  However, this collection is very exclusivist and heavily emphasizes the community holding the NFT to reap future benefits. As a result, the traders choose not to flip their NFT for short-term profit.

Team Overview 

Tiffany & Co. is an American luxury jewelry company known for its diamond and sterling silver jewelry. It was founded in 1837 and in 2019 was purchased by LVMH for $16.8 billion. The company has 326 stores globally, of which 60% of them are in Asia. 

The collection is administered by Chain, a blockchain technology startup to facilitate a better and more interconnected economy. They construct cryptographic ledgers and cloud infrastructure to support transformational financial products and web3 applications.

Chain was established in 2014 by Devon Gundry and Adam Ludwin, and has funded over $40 million from Khosla Ventures, Pantera Capital, Capital One, Citigroup, Fiserv, Nasdaq, Orange, and Visa.

In 2018, Stellar bought Chain to establish Interstellar, the foundation’s commercial arm. Chain was re-acquired in 2020 in order to pursue its aim of constructing a more resilient global financial system using blockchain and cloud technologies.

Whale Wallet Analysis                                                            

The NFTiff collection currently has a Unique Holders Ratio of 71%, indicating a very high distributed collection. The more unique holders there are, the less chance of collusion exists between the holders. There seem to be 4 NFTs that have yet to be minted.

The whale concentration is 10.80%, which is the highest we’ve ever analyzed. Among the top five holders, there are 3 prominent whales 0x5fBEF9E8d33eC8805b1d9B61aF474D5c312D5Bf3, mabu.eth and tokenangels.eth. The first one owns 12 NFTiffs and 12 CryptoPunks, and the other two, each own 1 CryptoPunk.

A higher whale concentration suggests an increased risk of price manipulation by famous collection holders. A higher whale concentration also increases the risk of a selloff should they liquidate their holdings. The selloff often causes a chain reaction forcing many smaller flippers to sell as well. Potential buyers are always advised to exercise due diligence.  

Technical Overview

NFTiff collection uses IPFS rather than fully on-chain. This type of storage poses a common challenge to visually rich metadata projects, as the smart contracts and the metadata are separate. 

  • Audit status: no audits performed yet
  • Storage: The NFTiff collection is stored as ERC-721 tokens on the Ethereum blockchain, and visuals are live on IPFS for immutable ownership.


The luxury fashion industry has embraced NFTs more rapidly and passionately than other sectors, and web3 will likely play a significant part in its future.

It makes a tremendous amount of sense. Both high-fashion and NFTs operate on notions of exclusivity and scarcity, which may help explain the industry’s openness to web3 compared to other conventional businesses that have just hesitantly begun to experiment with it.

The relevance of luxury companies using this new space is more than simply big names experimenting with new ideas. How these brands, including Tiffany & Co., Prada, Balenciaga, and Gucci, have adapted to blockchain-based technology while capitalizing on their devoted followings is instructive for anybody considering a move to web3.

Stay ahead of the game by diving into individual NFT collections using accurate market data and metadata filters with the DappRadar NFT Collection Explorer.

Unsubscribe at any time. T&Cs and Privacy Policy

Share this post on social media

Share this Article

Related articles

Related articles

Prada x Cassius Hirst Confirm New NFT & Airdrop

Exclusive collection with the son of world-renowned artist Damien Hurst