2020 witnessed the DeFi (decentralized finance) summer where Total Value Locked (TVL) in various protocols rose exponentially. In 2021, non-fungible tokens (NFTs) have taken the world by storm. In February this year, NFT artist Beeple sold his ‘The First 5000 Days’ for a whopping USD 69 million through noted auction house Christie’s, which had the world sit up and take notice.
The NFT market so far has been heavily skewed towards digital art, but this dynamic industry is ever-evolving. The promise of blockchain technology and Proof of Authenticity is luring luxury brands across various verticals. In our previous article, we outlined digital fashion brands expanding into the Metaverse, and here we focus on the world of exclusive timepieces and their role as NFTs.
Below are 3 watchmaker brands and companies that are catering to the lovers of horology:
- Jacob & Co.: This luxury jewelry and watchmaking brand released the first-ever NFT watch, which fetched $100000 at an auction on the Artgails NFT platform. The SF24 Tourbillion timepiece features a working split flap system, similar to the timetables we see at airports. However, instead of displaying city names and flight timings, the system displays cryptocurrencies like Bitcoin, Ethereum, and XRP in a ten-second animation that appears on the watch’s face. Included with the watch is a digital box as well as a matching certificate.
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2) Jean-Claude Biver: This legend of the Swiss watch industry also claims to have offered the “first NFT auction of a luxury watch” earlier this year with its Hublot Bigger Bang All Black Tourbillion Chronograph “Special Piece”, which has been a part of Jean-Claude Biver’s collection for over 25 years. The auction was held on NFT marketplace OpenSea and was held by Swiss cybersecurity company WISEKey.
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3) Konstantin Chaykin: Indie watchmaker Konstantin Chaykin turned his renowned ‘Joker’ timepiece into an NFT and auctioned it for Ether at Ineichen Zurich in May 2021. The unique piece is made up of 42,480 computerized images — one for each minute of the 59 days between March 13th and May 11th, 2021 when the new moon was in the Pisces constellation. Konstantin Chaykin is the only watch company that represents Russia at Baselworld, Switzerland, the premier international watch exhibition.
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About Blind Boxes
Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and become leaders in decentralized global economies while engaging fans and buyers to discover and collect rare, limited edition NFTs.
Via the Blind Boxes Marketplace, buyers get to experience the thrill of time-released white-labeled blind box series, where a collector can draw from and unlock sealed packages of exclusive items, curated by tastemakers across the arts, music, & entertainment sectors. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to produce bespoke blind box collections that feature top-tier talent and emerging artists and designers from around the world.
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