Yesterday, I was fixated on NFTiffs, a ground-breaking initiative from Tiffany & Co. designed to sell both physical and digital collectibles that accessorize CryptoPunks, one of the most successful early NFT properties.
In the 24 hours since the announcement, the sales volume of the CryptoPunk collection is up to 1279 ETH, or around $2.16 million, per CryptoSlam. The prior 24-hour period saw a sales volume of just 123 ETH, or about $200,000, per NFTPriceFloor. Clearly, there is a market for luxury-priced hybrid assets. I heard someone call them “phygital collectibles,” an obvious (but unfortunate) portmanteau of physical and digital. Hopefully someone will coin a better phrase to describe this new hybrid asset class.
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About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.