Watch Beyoncé sing 'Moon River' and flirt with husband Jay-Z in a romantic new video for their Tiffany's campaign

• Beyoncé and Jay-Z star in a new video for Tiffany & Co.'s "About Love" campaign.
• Beyoncé covers "Moon River," the song Audrey Hepburn performs in "Breakfast at Tiffany's" (1961).
• The video features romantic scenes between the husband and wife, who have been married since 2008.

Beyoncé and Jay-Z exude romance in a new video for Tiffany & Co.'s "About Love" campaign, released on Monday.

In the Emmanuel Adjei-directed advertisement, which is the latest release from the couple's year-long partnership with the luxury jeweler, Beyoncé, 40, covers "Moon River," the track Audrey Hepburn performs in the 1961 classic film "Breakfast at Tiffany's."

Her husband Jay-Z, 51, is featured throughout the video, which was filmed in Los Angeles' Orum Residence.

"ABOUT LOVE tells a love story of longing, reunion and a bond that transcends space and time," the video's description reads.

Both Jay-Z and Beyoncé are draped in Tiffany & Co.'s luxury jewels throughout the "About Love" video.

The 128.54-carat yellow diamond fastened around the "Partition" singer's neck is priceless. Since being discovered in South Africa in 1877, the jewel has only been worn by three other people: Mary Whitehouse, Lady Gaga, and Hepburn herself.

In the video, the gemstone is held up by a long chain containing 100 carats of diamonds.

The lavish piece is accented by a 22-carat yellow diamond ring and a 15.02-carat emerald-cut diamond ring sourced from Botswana, according to People.

Jay-Z also models several Tiffany & Co. designs in the advertisement.

Pinned to his tuxedo jacket is an Apollo brooch, and he wears one of the brand's new engagement rings for men on his finger. His cufflinks are custom-made and repurposed from the Bird on a Rock brooch designed by former Tiffany & Co. vice president Jean Schlumberger, according to Vogue.

As seen in earlier photos from the "About Love" campaign, "Equals Pi," a painting by Jean-Michel Basquiat that has never been displayed to the public, is featured in the background of the video. The piece had previously been owned by a private art collector since the 1980s before Tiffany & Co. acquired it.

Alexandre Arnault, Tiffany & Co.'s executive vice president of product and communications, suggested that the similarity between the brand's signature blue and the background color of "Equals Pi" was "not by chance" and may have been the late artist's "homage" to Tiffany & Co. in an interview with WWD.

In response, numerous professionals working in the art world have said that Basquiat, who died at 27 in 1988, likely did not intend for his painting to resemble Tiffany & Co.'s signature hue. Following the "About Love" campaign's release, the inclusion of "Equals Pi" has launched a widespread debate about the accessibility and commodification of a late artist's work.

While some approved of the "Breakfast at Tiffany" aesthetic, several of Basquiat's friends and collaborators said he would be "horrified" to see the painting included in advertisements. The New York City-born artist would have wanted his creations displayed in museums for public viewing, many said.

As Insider's Sinéad Baker reports, Basquiat's paintings have previously been used by other brands.

As part of the campaign, the Carters, who exchanged vows in 2008 and share three children together, have paired with Tiffany & Co. to create the About Love Scholarship program, which pledges $2 million in scholarships to students attending historically Black colleges and universities.