Yesterday luxury jewelry retailer Tiffany & Co. announced that it had entered the non-fungible token (NFT) space by purchasing a Tom Sachs Rocket Factory NFT.
Tiffany acquired the “Okapi” NFT seven days ago for 115 Ethereum, worth approximately $380,000 today. This was one of the collection’s most expensive sales, with an average sales price of just over 4 Ethereum ($13,400) over the last 90 days, according to data from OpenSea. During that period, there were just two sales above $50,000, with the largest the equivalent of $140,000.
The Tom Sachs Rocket Factory NFT collection allowed buyers to assemble rockets with component NFTs. Once completed, a small physical rocket was assembled and literally had a rocket launch. Provided it was found afterward, the physical mini rocket was delivered to the NFT owner.
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