Even though the cryptocurrency market has been going down for a long time, luxury brands like Gucci, Tiffany, Bulgari, and Jacob & Co. are still putting out NFTs and crypto projects that have to do with luxury goods.
Luxury brands and the launch of luxury-related NFTs
Just this summer, some luxury brands have launched their own NFTs that are related to luxury. In the jewellery industry, for example, both Bulgari and Tiffany launched their luxury NFTs before the long crypto winter.
Tiffany has joined the world of Non-Fungible Tokens by releasing a collection of 250 NFTiffs. These are digital passes that can only be mined by people who own CryptoPunks and can be used to get a custom pendant and the corresponding NFT.
Basically, when someone buys an NFTiff, Tiffany designers make a custom pendant for them based on their CryptoPunk. This pendant is made of 18-karat gold and has at least 30 precious stones or diamonds. The high-end brand set the price of each NFT at 30 ETH, or about $51,000.
Bulgari also made its first NFT jewel, called “Beyond Wonder,” which is a piece that goes beyond the limits of materiality. It includes the Ruby Metamorphosis and Emerald Glory necklaces, which show how High Jewelry and High Technology are linked.
The digital twins are digital artworks that look like the necklaces. They are based on the necklaces and are stored on the Aura blockchain and the Polygon blockchain. They were created by Luxochain and can be accessed through a digital experience made by Temera.
Luxury brands and cryptocurrency projects: Gucci and Jacob & Co.
Not only that, but other high-end brands like Gucci and Jacob & Co. also launched their own crypto projects in August.
And in fact, Gucci now accepts ApeCoin (APE) as a form of payment. This is possible because they use the BitPay payment gateway.
So, ApeCoin (APE) will be able to be used in some U.S. Gucci stores that already accept other cryptocurrencies.
Not only that, but Jacob & Co. has launched a limited-edition Bitcoin watch, which is another crypto project by a U.S. luxury brand. It is a physical collection of only 25 pieces that mirrors the Bitcoin ecosystem.
Here’s how the video looks:
JUST IN: Luxury watchmaker Jacob & Co launches limited edition #Bitcoin watch 😍 pic.twitter.com/4mryymqe5c
— Bitcoin Magazine (@BitcoinMagazine) August 31, 2022
Astronomy Solar is the name of a high-end watch. Bitcoin had 444 parts that rotated on two platforms to make a unique display. According to Jacob & Co., all of these symbols tell the story of how the first cryptocurrency came to be, from an idea to a real thing, from an oddity to a key part of the financial system.