Luxury jewelry brand Tiffany & Co announced their entrance into the NFT space with the recent purchase of the “Okapi,” a fully assembled rocket from the Tom Sachs: Rocket Factory NFT collection. Sold for 115 ETH ($380,000), the Okapi NFT is one of the most significant sales inside the collection. Tiffany & Co’s recent purchase symbolizes a long-lasting partnership between the two brands’ rising reputation in the NFT space.
Why Tiffany & Co?
Acquired by LVMH, Tiffany & Co’s expansion into digital assets just was a matter of time. As a premium source for quality jewelry, Tiff & Co is known for pursuing ventures in the technology space as well as its reputation for iconic jewelry. With the recent purchase of the Okapi, Tiffany & Co look to make their brand known across the blockchain.
While leading companies and financial institutions hurdle into NFTs and Metaverse experiences, Crypto & NFT awareness spreads worldwide. Additionally, The power of NFTs and the versatility of crypto has led to the massive adoption of blockchain technology inside various businesses and Fashion Brands.
“The evolution of fine art collecting is here and the future is bright with NFTs.” – Tiffany & Co
The Rocket Factory
In brief, Tom Sachs’ NFT collection features rocket parts that create physical copies once assembled. The collection of 1000 consists of the tail, body, and head that form a complete rocket once made. Furthermore, the company will create a physical replica of the completed rocket and hold a grand launch at their facility. After launch, the owner receives a video of the launch along with the physical rocket and NFT itself, all under the holder’s ownership. Currently, the project floor hovers above 2.4 ETH with over 10,000 ETH in volume traded on OpenSea.