This story was first published on April 1, 2022, and updated on April 5, 2022.
On April Fool’s Day, luxury jewellery brand Tiffany & Co announced that it had launched its own cryptocurrency just days after the maison entered the NFT space by purchasing a Tom Sachs Rocket Factory NFT for 115 Ethereum (worth about US$380,000).
The coin was first teased in a post early on April 1. Shortly after, the brand released an Instagram video that showed off the coin, dubbed TiffCoin.
“We’re launching our own cryptocurrency called TiffCoin,” the company wrote in the caption of the post.
According to Tiffany and Co’s website last week, the coin was meant to be a modern-day version of the Tiffany Money coins that could be exchanged for jewellery back in the ’70s and ’80s.
It added that top TiffCoin holders will be able to access exclusive product drops and future NFT releases.
While many were quick to catch that the brand might be playing an April Fool’s joke, there were just as many (like us), who suspected that there might be some truth to the announcement. After all, there was a legitimate webpage attached to the post.
Unfortunately, the company has now come out to reveal that it was indeed an April Fool’s Day joke (for the most part). Rather, it decided to release limited-release 18K gold coins instead.