50 years ago, in the movie "Breakfast of Tiffany", the classic scene of Audrey Hepburn standing in the large glass window of Tiffany, making TiffanyCO. the jewelry brand aspiration for countless girls around the world.
Since Alexandre Arnault, a second son of LV Group and a post-90s generation, became Tiffany's vice president of product and communication last year, Tiffany began to move in the trend circle and continuously expand her younger fashion second curve.
Recently, Tiffany has also started the most popular NFT nowadays. This time, Tiffany entered the industry from the top CryptoPunks in the circle and carried out a successful hunger marketing campaign, turning NFT into real jewelry, which also made Tiffany attract countless attention in the jewelry industry, fashion industry, and Web3 circles, and once again pushed NFT's CC0 copyright model to the forefront.
Many people joked that it seems that the future is not just for girls to look forward to Tiffany's little blue box, but also for boys to steal the head for it.
Tiffany is becoming more and more popular. 340,000 NFT necklaces were snatched
At the beginning of last week, Tiffany officially announced that she had officially entered the NFT field and launched the brand's first project "NFT", that is, a combination of "NFT" and "Tiffany". The NFTiff series of is themed on CryptoPunks, with a limited number of 250 sets, and each set is priced at 30 Ethereum (about 340,000 yuan).
The biggest feature of NFTiff this time is the "combination of virtual and real". Users who have purchased the "NFTiff Pass" can not only get a unique Tiffany customized version of physical pendant, but also get the NFT digital collection of the pendant.
In the official NFTiff project promotional video, Tiffany changed his past exquisite and elegant route. The small blue box turned into a pixel style, the music became an electronic version, and accompanied by the example of CryptoPunks pendant, giving people the feeling of suddenly turning into a trendy brand.
video comes from Tiffany's official
, but it should be noted that 's NFTiff this time is not something you can buy with money. In addition to the limited release, the sales targets of NFTiff this time are limited to CryptoPunks holders, and each user is limited to purchase three "NFTiff pass certificates".
As the earliest and most popular digital collection in the NFT market, there are many avatars of million-dollar level in the CryptoPunks series, and even the highest selling price exceeds 20 million US dollars. Therefore, Tiffany's operation can be said to have completely focused its target customers on high-net-worth individuals.
In order to restore the original appearance of the CryptoPunks avatar with high quality, the Tiffany design team converted 87 attributes and 159 colors that appeared in the 10,000 avatars of the CryptoPunks series into the gems with the most similar colors and enamel , and then painted and inlaid on the 18K rose gold or 18K gold chassis.
The size of each physical necklace is about 3 cm long and about 2-3 cm wide. It is completed with at least 30 gems or diamond sets, and comes with an adjustable necklace. The number of the CrytoPunk avatar and the TIFFANY Co. logo will also be engraved on the back of the pendant.
Tiffany launched the pre-sale of 100 NFTiff passes on the morning of August 3, Eastern Time, and was quickly snatched away. The remaining 150 NFTiffs were officially released on the 5th and were sold out after only about 20 minutes of opening. There are also some familiar figures among buyers, such as JJ Lin , Moonbird founder Kevin Rose, etc.
statistics show that Tiffany successfully raised more than $12.5 million with these 250 passes this time. Tiffany said that the delivery time of the first batch of NFT collections is expected to be in December this year, while the delivery time of the supporting customized necklaces is expected to be in February 2023.
But Silicon Star people noticed that the current trading floor price of NFTiff in the secondary market has fallen below the issue price of 30 Ethereum.
90s "high, rich and handsome" president is in charge of the helm, Tiffany is planning to build the Web3 consumer ecosystem
In fact, since the NFT became popular last year, many luxury brands including Gucci, Burberry, Burberry, Balenicaga and other luxury brands have tried the waters to develop NFT, and Tiffany is not the first one.
, but the biggest feature of this project is that Tiffany does not rely on Opensea or other trading platforms to issue or sell its own NFTiff, but instead works with blockchain technology innovation company Chain to create its own global NFT platform nft.tiffany.com.
It can also be seen from this that Tiffany's entry into NFT this time is not just a simple game, but has a longer-term plan. Next, Tiffany may cooperate with more NFT series works to copy and upgrade the gameplay of this CryptoPunks, and create a new NFT business ecosystem through NFT development, digital version and physical version conversion, transaction and reselling.
Tiffany's high-profile transformation attempt to enter Web3 can be said to be closely related to its current vice president of product and marketing, Alexandre Arnault.
In October 2020, LV Group acquired Tiffany for US$15.8 billion, setting the largest deal in the history of the luxury goods industry. Alexandre Arnault is the second son of Bernard Arnault , the head of LV Group. , born in 1992 and is 1.9 meters tall, is regarded by the industry as one of the most promising successors of LV Group. He is famous for his youthful style and has made great contributions to the LV Group's digital transformation and the expansion of young customers in recent years.
For example, when he was 25 years old, he became the CEO of the century-old suitcase brand Rimowa, innovated the brand marketing strategy , promoted Rimowa's cooperation with young brands Supreme, Off-White, etc. In addition, he also took the lead in creating LV's e-commerce platform 24 Sevres. After
took over Tiffany, Alexandre also kept moving to "renewal revolution". As a self-proclaimed "technology home", Alexandre is also very interested in the hot Web3 nowadays.
In January this year, Alexandre replaced his Twitter and Instagram avatars with CryptoPunks, and then posted Tiffany jewelry made based on his CryptoPunks on Twitter in April. At that time, the outside world speculated that Tiffany would make some moves on NFT. But at the same time, his father, LV head Bernard Arnault, also publicly stated that he had no interest in selling brand virtual products at low prices.
This time, Alexandre has obviously found a good way to combine digital products and physical products. Not only did it not weaken Tiffany's tone as a luxury product, it also found a good path for the future conversion of NFT and physical goods.
NFT copyright issue has become the focus again. How exactly does CC0 mode work?
Tiffany's way of physicalizing NFT can be said to have opened the door to a new world for various brand owners. Since you can turn popular NFTs into jewelry, can you also turn them into luxury bags, clothes and accessories in the same way? Therefore, how to define the copyright issues of NFT, how to ensure the scarcity of NFT, and the ownership of income have become issues that everyone is very concerned about.
In fact, although Tiffany's NFT project is based on CryptoPunks, it has no direct relationship with the project party of CryptoPunks. To CryptoPunks official statement, Tiffany's attempt made a good example of their upcoming copyright license agreement.
In March this year, YugaLabs, the parent company of Bored Apes, announced that it had acquired all intellectual property rights of CryptoPunks and announced that it would plan to grant commercial rights to all CryptoPunk holders. That is, when you own an NFT, you not only own it, but also its copyright, you can decide what to do with your CryptoPunk and what kind of IP to build around it.
is placed in Tiffany's example this time. In essence, this time it was not Tiffany who sold the products to customers, but the holders of the CryptoPunks avatar entrusted Tiffany to create a new IP based on the NFT they held, and this new IP is Tiffany's CryptoPunks pendant and a new NFT. What is involved behind
is actually a recent focus of discussion in the NFT industry, a form of copyright called CC0.
CC0 is a copyright digital license launched by the non-profit organization Creative Commons (Creative Commons , CC) in 2009 specifically for abandoning copyright and investing works in the public domain. If an NFT project declares a CC0 license, it means that anyone can use NFTs in a variety of ways for commercial or non-commercial purposes without specifying the creator of the original NFT and without applying for any application.
Simply put, CC0 can be regarded as an open source IP. That is to say, even if you don’t hold an NFT, you can create secondary creations based on that NFT work and make profits from it. At present, many emerging NFT projects have turned to the CCO model, such as Mfers, Moonbirds, Blitmap, Nouns, etc.
Of course, the industry is still full of controversy over whether NFT projects should adopt the CC0 protocol.
supporters believe that CC0 can quickly expand the visibility of the project and expand the boundaries and scale of the entire NFT market. When people are using NFT to create more creative products, the NFT market will flourish quickly. At the same time, this practice of not taking copyright into account in the hands of the project is obviously more in line with the spirit of Web3 decentralized .
Opponents believe that the CC0 protocol will lead to the abuse of NFT works, thereby weakening the influence and scarcity of the original NFT project. At the same time, it is easy to cause copyright and creativity disputes, which harms the rights and interests of NFT holders.
In this case, currently includes Boring Ape, Meebits, CloneX, Azuki and other top projects, adopt a relatively compromise method, which is to grant restrictive licenses. For example, Boring Ape allows holders to use their own NFTs to create and sell derivative products, but requires that BAYC's brand logo and name cannot be used; Meebits requires holders to obtain commercial benefits no more than $100,000 per year, etc.
In this mode, the copyright of NFT works is still owned by the project party, but the project party grants the power to the holder for free under certain binding conditions. Because it is not open to everyone, it can also ensure the scarcity of the project.
Before being acquired by Yuga, CryptoPunks actually adopted a completely closed copyright form. Holders do not have any other rights except using the purchased works as avatars and transactions. This is also an important reason why CryptoPunks was the earliest NFT, but its later development was not as good as that of boring apes and other rising stars. Tiffany's test of the waters obviously opened up a brand new business channel for CryptoPunks.
At present, in the context of NFT ebb, the shift to restricted licensing or complete CC0ization may be the general trend. As the copyright issues of NFT become increasingly clear, we may see more physical products with NFT elements appear in our daily lives.
*Note: The background of the cover image is from Tiffany's official official, and the copyright belongs to the original author. If you do not agree to use Qing, please contact us as soon as possible.
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