In a first-of-its-kind move, the high-end jewelry brand, Tiffany & Co. Tiffany & Coannounced the launch of a limited collection of 250 bejeweled necklaces dedicated to Crypto Banks users. CryptoPunksa popular set of non-replaceable tokens.

The “Crypto Banks” group was launched in 2017, and consists of 10,000 unique tokens, using pixel technology, that are stored on Ethereum, a decentralized network based on digital transactions technology, the blockchain, according to CNN Arabia.

Tiffany’s has sold 250 digital cards bearing the name “Tiffany”.NFTiffs‘, which could be minted and exchanged for specially designed Crypto Banks necklaces and a matching piece of art with the code non-fungible. Tiffany designers create a custom necklace based on the buyer’s Crypto Banks token.

Each Crypto Banks symbol contains a unique combination of 87 attributes such as a medical mask or hat, and features 159 colors that will be reflected in the design of the necklace by “Tiffany”. / or urgently, according to the brand.

It costs to buy a digital card.NFTiffs‘, which includes a necklace design and digital artwork matching the token that cannot be exchanged, 30 Ethereum, or about $50,000.

“Tiffany’s necklaces are just one project among the projects associated with non-fungible tokens,” said Noah Davis, New Brand Head of Crypto Banks and former Head of Digital Sales at Christie’s.

“Having a token that cannot be exchanged means that you have an entry on the blockchain,” Davis noted, adding that “it is an indelible entry that can never be modified fraudulently, it cannot be forged, copied, or destroyed. It’s there forever,” he continued, “Having an irreplaceable token is a really powerful thing in the digital age.”

In May, luxury fashion house Gucci announced plans to allow customers to pay for purchases using Bitcoin and several other cryptocurrencies.

Davis added: “If we are heading into an age where the virtual world becomes more important to our experiences, having virtual goods will be more valuable, and to have an advantage in that, for these luxury companies, to enter this world now, when it is still early, It makes great sense and makes a lot of sense.”