Swiss luxury watchmaker Franck Muller has launched an exclusive NFT collection of limited edition watches on cryptocurrency trading platform Binance.
Luxury companies are increasingly making their way into the Metaverse. Their first forays into a virtual parallel world and into non-fungible tokens (NFT) were somewhat shaky, even for luxury Swiss watch manufacturers like Hublot.
In the meantime, several luxury brands have successfully launched their own Metaverse and NFT creations. Swiss luxury watch manufacturers like IWC are joining fashion companies like Prada, Gucci, Versace, and Ralph Lauren, who have a mix of the “real” and virtual worlds in mind.
Swiss luxury watch maker Franck Muller from Geneva also relies on Web3. The factory has Introducing a range of wearable electronic devices And physical hours on The NFT marketplace for the world’s largest cryptocurrency exchange, Binance announce. The chain will continue with the release of the NFT “The Franck Muller Mystery” Starts July 27, 2022.
Set includes 15,000 NFTs from “Mystery Boxes”. These boxes can contain various surprises, such as exclusive Apple Watch watch faces. But there are also NFT watches that the avatar can wear in Metaverse Decentraland, or physical Franck Muller watches that buyers can buy, on special occasions or visiting a Geneva watch workshop.
The encryption journey continues
Chests come in four different versions: Normal, Rare, Super Rare, and Super Super Rare. The higher the value of the box, the greater the chance that the buyer will receive a rare bonus. In addition to the Mystery Funds, Binance NFT will also host a unique auction starting from July 27th. The auction winner will receive an exclusive NFT artwork and an actual Franck Muller watch for once.
With this initiative, Franck Muller continues his journey that started some time ago. In 2019, the House of Geneva had a limited edition with “Crypto Vanguard” According to its own data, it launched the first functional Bitcoin watch. Launched in collaboration with cryptocurrency trading platform Regal Assets, this stylish watch features the Bitcoin logo and a QR code from the Bitcoin Genesis block. The watch face contains a laser-etched QR code of a public wallet address that can be used to deposit bitcoins and check account balances.
Luxury brands have been among the latest to enter the e-commerce world. In the past, traditional luxury brands viewed online commerce primarily as a distribution platform to sell luxury goods in the lower to middle segment. A number of luxury companies remain cautious about their online businesses. Many brands believe that the feeling of luxury fades a bit if customers only buy their products online. So the high quality products were often and still are reserved for the premium experience in offline retail stores.
For manufacturers of high-quality watches, as well as for luxury companies in general, Metaverse and NFT present both opportunities and challenges. An early entry into VR could mean a long-term competitive advantage for Pioneers, not least because both luxury watches and NFTs attract avid collectors.
Successful launch on Bahnhofstrasse
However, the philosophy and experience of the unique mechanics and craftsmanship of luxury watches contrasts in the parallel world of watches designed with 3D software and are therefore relatively simpler and cheaper to produce.
Only recently, the Beyer Chronometrie watch store on Bahnhofstrasse in Zurich, which is especially popular with bankers, has also entered a new virtual territory and launched its NFT watch collection. The first 100 NFT watches sold out in just seven minutes, eg finews.ch mentioned.