Tiffany is turning NFTs into jewellery for $50,000. Yeah, it’s weird.

Many people don't understand why NFTs are as expensive as they are.

Tiffany is teaming up with one of the most popular and expensive NFT projects in the world to release a limited collection of its own.

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NFTiff is limited to a supply of 250 and will transform your NFT into a pendant.

The price of an NFTiff at the time of writing is $47,250. You can redeem an NFTiff for a custom-made piece of physical jewellery based on your NFT, as well as another NFT that recreates the final jewellery design.

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It's eye-wateringly expensive, but it's not all that shocking. Over the last 10 sales, the average has been over 70 ETH. You're getting a piece of Tiffany jewellery as well as another NFT with a very small supply, which will likely make it highly coveted amongcryptocurrencies.

Tiffany will make the pendants from 18K rose or yellow gold and include at least 30 stones. The jewellery will be shipped out in three years.

There will be a sale on Tiffany's website on August 5th, so be careful.