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Another brand enters the NFT game

Almost every day, we hear of a brand releasing a new NFT series.

Brands which seemingly would have no use case for NFTs have started to get creative and have found a way to enter the Web3 space. A few years ago no one knew what an NFT was unless you were deep in the game, now they are common news. This is a trend that we will continue to see, as companies look to get some skin in the game.

Starbucks is releasing a series of coffee NFTs. Tiffany has even entered the game with ‘NFTiff’, they are teaming up with the famous CryptoPunk NFT series that has stormed the NFT space in recent years. Tiffany is releasing a limited supply of 250 NFTs that allow CryptoPunk holders to transform their Punks into a real-life bespoke Tiffany pendant, for a cool 30 ETH (£40,000 at time of writing).

If you don't know much about CryptoPunk, they are one of the most famous series to date. A series of low-quality pixellated faces that have attracted price tags in excess of a million in some cases. Therefore it is a surprise that Tiffany has buddied up with a collection that has seen so much controversy.

Whilst it may be just a marketing ploy to make the news and gain attention, I believe that it goes much deeper than this.

Organisations are slowly waking up to the fact that Web3 will be too big to ignore, and therefore they are often adopting the age-old phrase, ‘if you can’t beat them, join them’. Consequently, they are entering the space early to get a foothold and not be too late to the party. AN NFT is not too difficult to make and is, therefore, a convenient and easy first step into Web3. Brands are therefore capitalising on the ease of entry, and are looking to leverage an early market position so that they are in a good place when Web3 has its expected take off.

In fact, we know first-hand how simple it can be to make an NFT series with the right team, we have made our own here.

There are thousands of ways companies can use NFTs, no matter the industry, therefore if you need help ideating for your first series, then please do get in touch. Don’t wait till it's too late.


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