Buyers Hold to Their CryptoPunk-Themed NFTs by Tiffany after Swift Sale

cryptonews.com:

NFTiffs, a collection of 250 CryptoPunks-themed NFTs by American luxury jewelry retailer Tiffany, has seen a plunge in its sales volume as the buyers haven't rushed to the secondary market yet.

According to NFT data aggregator CryptoSlam, NFTiffs' sales volume has dropped by 32% over the past 24 hours, plunging to around USD 458,000. 

Data by major NFT marketplace OpenSea also indicates a drop in the collection's trading volume, which is down by around 24% over the past 24 hours to ETH 320 (USD 555,000 at the time of writing). Notably, NFTiffs still ranks sixth in terms of volume among top NFT collections on OpenSea over the past day.

Meanwhile, the collection's floor price, or the lowest price in the collection, has held well. According to NFT data tracker NFTGo, the collection's floor price currently stands at ETH 28, up by around 17% over the past 24 hours. 

As reported, NFTiff is a collection of 250 custom NFTs designed to become a digital and physical pendant for the owners of a CryptoPunk.

The collection launched on Friday and sold out in about 20 minutes. Each NFT sold for ETH 30, or about USD 52,000, generating some USD 13m in revenue for the company. 

Those who purchased NFTiffs must redeem their tokens by August 12, according to Tiffany's website. As for the physical pendants, they are expected to be delivered to buyers by early 2023. If an NFTiff holder sells their token before shipment of a pendant, then they cannot receive the pendant, per the website. ____Learn more: - Physical Art Narrowly Wins Over NFTs in Damien Hirst’s Experiment- Virtual Land Sales Take a Plunge Amid Broader Crypto Downturn- NFT Mystery Boxes: What Are They & Are They Worth It?- Top 7 NFT Scams to Look Out For- Law Firm is Trying to