Jacob & Co. makes their mark by launching the first NFT luxury watch
Jacob & Co. will release their Epic SF24 Tourbillion World Time in Rose Gold one-of-one watch as an NFT on April 4 via ArtGrails.
Jacob & Co. is for the luxury item dream chaser and tends to err on the side of difference-making. Their game-changing, jewelry-making endeavors have led them to become the first of many to enter the NFT space.
The highly coveted piece will usher in a new change and function as a flap system with 10 cryptocurrencies on display at all times. Here are the 10 complete digital tokens to be displayed: NFT, Bitcoin (BTC), Ethereum (ETH), Fantom (FTM), Tether (USDT), Cardano (ADA), Stellar (XLM), Binance Coin (BNB), Polkadot (DOT), Ripple (XRP).
This product targets the digital luxury and high-end consumer, and a starting bid clocking in at $1000. It directly markets toward the customer who follows business developments, tracks the trends, and knows when to make a lucrative investment.
We had the opportunity to get some insight into how Jacob & Co. CEO Benjamin Arabov and ArtGrails founder Avery Andon came together to drop the first NFT luxury watch.
How do you think people will react to the first-ever NFT luxury watch?
Benjamin Arabov said, “NFT is an unexplored territory for most people, let alone the conventional horology industry. Jacob & Co. is a trailblazer in discovering this brand-new arena for all the high-end jewelry and watch brands.”
“Our goal is to prove that there is a market for (HELDAs) High End Luxury Digital Assets and we want to be the first ones to break into this industry.”
And launch is exactly what they shall do in a few days to embark upon uncharted crypto territory.
Recently, we have seen artists embed Swarovski crystals into their foreheads and now there will be a digital piece of timekeeping machinery sold as an NFT.
The Jacob & Co. NFT will launch in an auction format. The auction starts on April 4 and will last for five days. Only one winner of the auction who submits the highest bid will be chosen.
“In the luxury industry, there is this constant battle between accepting new technologies and ways of doing things versus keeping things antiquated the way they were done centuries ago. There will be a point where old technologies phase out and new ones come in.”Avery Andon, ArtGrails
This product trend is the end result of the crypto community continuing to grow. As more companies continue to provide relevant goods and services within the NFT space it becomes more solidified.
The eligibility to back the blockchain with tangible items opens all kinds of decentralization and distribution opportunities.
At the heart of the company is the passion, drive, and creative force of Mr. Arabo. His respect for traditional craftsmanship and artistry gives him the ability to envision and realize exquisite jewelry and unique timepieces.
Avery Andon as the Founder of ArtGrails, what do you think of this collaboration with Jacob & Co.?
Avery said, “ArtGrails prides itself as a curated platform, with a focus on higher end, exclusive offerings. This one-of-one Jacob & Co. NFT Watch is the ultimate grail and will be a historic addition to any serious collection.”
He continued, “I have been an avid watch lover and collector my entire adult life. Starting with the Rolex Air-King my father passed down to me after I graduated school to the oversized, iced out Jacob & Co. Five Time Zone watch I (irresponsibly) blew all my first big paycheck on!”
“Watches have always been a major part of my life, so it’s an honor that Jacob & Co has entrusted ArtGrails with this important release.”– AVERY ANDON, FOUNDER OF ARTGRAILS
The ArtGrails founder told us more about his vision. He said, “My vision is to convince the traditional haute horology industry that we need to continue pushing towards digital, even if it’s launching a digital product.”
Any hopes for ArtGrails’ leap into the digital market?
Avery said, “Our hope is that through successfully launching the Jacob & Co. NFT, a new category will be born and other luxury watch brands will start launching groundbreaking new products and collections through NFT.”
Certainly, there is a groundbreaking currency shift taking place on this second bubble swell for the likes of Bitcoin. The first time, it crashed due to mostly a lack of investors.
Regardless, the blockchain continues to garner more support and consumers are beginning to show intrigue for digital assets.
Jacob & Co. just wants to make sure they are historically correct and set the bar high for all competitors in the NFT jewelry and high end luxury digital asset space.