A U.S. luxury jeweler has reportedly partnered with the popular NFT (non-fungible tokens) collection CryptoPunk to transform the digital collectibles into wearable works of art. According to reports, for 30 ETH (approximately $50,000), current CryptoPunk holders can purchase a unique "one-of-a-kind jewelry experience" NFT, which will allow their CryptoPunk digital avatar to be reimagined as a customized diamond-encrusted pendant necklace. Only 250 "experiences" will be available. Within 24 hours of the announcement of this exclusive collaboration, CryptoPunk sales reportedly increased 248 percent.
Following the debut of its premiere collection earlier this year, a South Korean motor company has reportedly launched a second NFT collection – a membership program for NFT holders that will provide access to exclusive "phygital (physical + digital) experiences that merge the real and the digital world." According to reports, these experiences include access to digital metaverses, digital content giveaways and special physical consumptive items.
In similar news, a French cognac distillery has reportedly partnered with R&B superstar Usher to launch a hybrid NFT collection that uses artificial intelligence technology to transform the artist's lyrics into digital works of art. Offered exclusively on BlockBar.com, each NFT will be priced at $500 (fiat or ETH). According to reports, NFT holders will be given the option to (i) keep the NFT; (ii) resell it; or (iii) redeem the NFT for a limited-edition cognac bottle.
With more brands offering NFTs, researchers have been tracking how and on what collections consumers spend their money. According to a recent report, in the first half of 2022, users spent approximately $2.7 billion minting NFTs, with a majority of the activity occurring on OpenSea and more than 1 million unique wallet addresses participating. This research suggests that the NFT market remains strong.
For more information, please refer to the following links:
- Jewelry Brand Tiffany and Co. Unveils $50K CryptoPunk Necklaces
- CryptoPunk Ethereum NFT Sales Jump 248% After Tiffany Launch
- Hyundai Adds To NFT Offerings
- Rémy Martin and Usher Launch Global Campaign With AI-Powered Bottle and NFT
- NFT Sales: Where did the ETH go?
- Crypto users spent $2.7B minting NFTs in first half of 2022: Report
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