Monthly Recap

Monthly Recap: August 2022

Monthly Recap: August 2022
  • Chain Partners with Tiffany & Co. to Launch ‘NFTiff’ Project
  • $12.5 Million Worth of ‘NFTiff’ Passes Sold Out in Minutes
  • Chain’s Team Continues to Expand in Size

Chain Powers ‘NFTiff’ Project for Tiffany & Co.

Chain announced a strategic partnership with Tiffany & Co. for the release of ‘NFTiff’, in early August. The project was exclusive to the CryptoPunks’ community and minted 250 NFTiff passes that are redeemable for a gold and enamel Tiffany & Co. pendant, inspired by the buyer’s CryptoPunk art. Chain powered the ‘NFTiff Gateway’, which onboarded CryptoPunks holders to connect their wallets, and select which CryptoPunk they wanted made into a custom Tiffany pendant for 30 Ether.

This project came to fruition when Tiffany & Co.’s Executive Vice President, Alexandre Arnault, tweeted a photo of his CryptoPunk #3167 immortalized in the form of a Tiffany & Co. stamped pendant, earlier this year. After capturing the interest of Chain CEO, Deepak Thapliyal, both industry leaders came together to deliver this exclusive product to the NFT community.

Through Chain’s comprehensive NFT-as-a-Service, the team of blockchain specialists were able to assist Tiffany & Co. through strategizing and conceptualizing their first collection in the Web3 space. Chain’s services included design prototyping (for the NFTiff digital asset), production and backend services that powered the NFTiff Gateway, while enabling a seamless customer experience for CryptoPunk holders. The global team of specialists assisted whitelisted NFTiff holders during presale, to ensure that they were properly guided through the onboarding process. After minting and launching the NFTiff collection for the Tiffany & Co. team, Chain provided ongoing support and site maintenance for NFTiff Gateway. The luxury jewelers were able to utilize Chain Sequence for logistics and inventory, as well as implementing a cryptographically secure payment system for the NFTiff holders.

‘NFTiff’ Project Sells Out in Minutes

On Friday, August 5th, all 250 NFTiff passes were purchased and sold out. In 22 minutes, every NFTiff pass was minted, and generated $12.5 million (7,500 Ether) in revenue. This project gained traction beyond the reach of the crypto community, with publications such as Forbes and Vogue covering the release of this project.

Following the project’s announcement on Twitter, which trended for several hours, there was a considerable amount of anticipation and speculation surrounding the project. Chain CEO, Deepak Thapliyal (@dt_chain), led the NFTiff marketing campaign on Twitter, alongside Tiffany & Co. Executive Vice President, Alexandre Arnault (@alexarnault). During the week of the launch, Thapliyal engaged with his following on Crypto Twitter, and answered any questions that came up regarding the NFTiff project.

The NFTiff digital asset is set for delivery in December of this year, while the Tiffany pendants will be delivered in an iconic blue Tiffany & Co. box with a certificate of authentication, in early 2023. NFTiff holders should expect an email of their pendant rendering from Tiffany & Co. artisans sometime this October.

Chain Onboards New Talent to Continue its Mission of a Smarter and More Connected Economy

Despite numerous layoffs throughout the industry, Chain recently added several QA specialists, DevOps Engineers, and Smart Contract Developers, to its expanding team. As the globally dispersed company continues to grow, Chain will need more brilliant talent to continue building and designing its industry-leading products.

If you are interested in resolving major issues within the Web3 industry, and making our products more accessible to businesses across the spectrum, visit https://jobs.lever.co/chain to explore our career openings.

About Chain

Chain is a blockchain infrastructure solution company that has been on a mission to enable a smarter and more connected economy since 2014.

Chain offers builders in the Web3 industry services that help streamline the process of developing, and maintaining their blockchain infrastructures. Chain implements a SaaS model for its products that addresses the complexities of overall blockchain management. Chain offers a variety of products such as Ledger, Cloud, and NFTs as a service. Companies who choose to utilize Chain’s services will be able to free up resources for developers and cut costs so that clients can focus on their own products and customer experience. Learn more: https://chain.com.

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