Luxury brands such as Gucci, Tiffany, Bulgari, and Jacob & Co. are not stopping in the face of the cryptocurrency market’s long bearish trend, launching luxury-related NFTs as well as crypto projects.
Luxury brands and the launch of luxury-related NFTs
This summer alone, some luxury brands have launched their own luxury-related NFTs. In the jewelry sector, for example, both Bulgari and Tiffany did not stop before the long crypto winter and launched their luxury NFTs.
Tiffany has entered the world of Non-Fungible Tokens by launching its 250 NFTiffs collection, digital passes, minable only by holders of CryptoPunks that will allow the holder to obtain a custom pendant and the respective NFT.
Basically, for each NFTiff purchased, Tiffany designers create a custom pendant, based on the buyer’s CryptoPunk, rendered in 18-karat gold and with at least 30 precious stones and/or diamonds. The cost of each NFT was set by the luxury brand at 30 ETH, about $51.000.
Bulgari also made its first NFT jewel “Beyond Wonder,” defined as a creation that transcends the boundaries of materiality and includes the Ruby Metamorphosis and Emerald Glory necklaces, reinforcing the link between High Jewelry and High Technology.
The digital twins are digital artworks inspired by the necklaces and stored on the Aura blockchain and Polygon blockchain, minted by Luxochain, and accessible through a digital experience created by Temera.
Luxury brands and cryptocurrency projects: Gucci and Jacob & Co.
Not only that, in August, other luxury brands such as Gucci and Jacob & Co. launched their own crypto projects.
And in fact, Gucci has added ApeCoin (APE) to its list of cryptocurrencies accepted as a means of payment, thanks to the use of the BitPay payment gateway.
ApeCoin (APE) will thus be able to be used in selected U.S. Gucci stores where other cryptocurrencies are already accepted.
Not only that, another crypto project by a U.S. luxury brand is Jacob & Co., which has launched the limited-edition Bitcoin watch. It is a physical collection of only 25 pieces that echoes the Bitcoin ecosystem
Here is the video presentation:
JUST IN: Luxury watchmaker Jacob & Co launches limited edition #Bitcoin watch 😍 pic.twitter.com/4mryymqe5c
— Bitcoin Magazine (@BitcoinMagazine) August 31, 2022
“Luxury watchmaker Jacob & Co launches limited edition Bitcoin watch.”
The luxury watch called Astronomy Solar Bitcoin incorporated 444 components on two rotating platforms for a unique display, and according to Jacob & Co., all of these symbols tell the story of the advent of the first cryptocurrency, from abstraction to reality, from anomalous phenomenon to pillar of the financial system.