Will the World’s First NFT Watch Be Sold with a Record Price?

3 April 2021
Will the World’s First NFT Watch Be Sold with a Record Price?

The first crypto watch,which unveiled by Jacob&Co., marks a new era.

If you have read the article written by Deniz Bora in which she examines NFT (crypto) art in detail, you are informed about NFT works of art are sold with record prices. When Blockchain technology came about, a watch with Blockchain was produced; so now a question comes to our mind that is there any NFT watch? Yes, there is.

The first NFT watch announced on March 30; it was also stated that this watch will be sold on an auction that begins on April 4 and will continue in five day with a bidding starts with $1.000 Based on Jacob&Co.’s Epic SF24, the digital SF24 NFT will be sold at ArtGrails. ArtGrails is a digital auction platform founded by renowned art street artist Alec Monopoly and his brother.

Epic SF24, the starting point of the crypto watch, was a world watch in which 24 city names (just like the airport departure boards) change when you press a button. In the digital version of the watch, SF24 NFT, city names are replaced by 10 different cryptocurrencies, including Bitcoin, Ethereum, and Phantom. Because of watch is NFT means that even though it is not a physical watch, the animation produced, the creator of it and the information about its owner are known; means personalized and authentic means guaranteed. Crypto currencies are preferred in NFT watches because eighty percent of NFT collectors are in the field of crypto and playgrounds.

Since this watch is not a physical watch (it will come in the form in virtual realm as 10-15 second animation and NFT watch and will be a tourbillion not normally in the watch, a unique box and certificate will also accompany the digital set) is thought that its buyer will not be a standard watch enthusiast. However, he could be both crypto art and watch enthusiast. That is why, it is a precious comment that Benjamin Arabov, who took over the CEO position of the brand from Jacob Arabov on March 16, said “ NFT is an unexplored territory for everyone, let alone the conventional horology industry”.  Jacob & Co. wants to be one of the pioneers of the new field.

ArtGrails also cannot help but add that this work is one of the best NFTs it has ever seen.

Now, we are curious about how many buyers the first NFT watch will find. Although the digital auction platform says that they cannot predict the sales figure, they comment as follow: “If the physical version of watch is sold for 210 thousand dollars, the NFT watch can reach this number or even more.”