LVMHF (LVMHF 0.13%) owned Tiffany & Co recently sold an NFT redeemable for a Cryptopunk piece of jewelry. The offer was mocked on social media, but it brought in $15 million and could show the future of marketing in a digital world.
How Tiffany Made $15 Million From Cryptopunk NFTs
Tiffany sold an NFT that was a brilliant marketing tool.
By Travis Hoium – Aug 13, 2022 at 10:06AM EST
Key Points
- Tiffany reached 10,000 wealthy customers by offering a piece of jewelry tied to an expensive NFT.
- The NFT offered is redeemable for a custom pendant.
- After selling out quickly, this could be a great marketing tool for future product launches.
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About the Author
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
Stocks Mentioned
Lvmh Moët Hennessy - Louis Vuitton, Société Européenne
OTC: LVMHF
$530.31
(-0.13%)-$0.69
LVMH Moët Hennessy - Louis Vuitton
OTC: LVMUY
$105.46
(-0.61%)-$0.65
*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.