Watch NFT: Next Level Digital Security at Luxe Watches
NFTs - or non-fungible assets - are a big talking point at the moment in the horology world and here at Luxe Watches, we’ve got some exciting news to share about them.
We are now offering NFT’s, but what is an NFT and how does it provide your luxury watch with next level digital security? Read our guide to find out more.
An NFT (non-fungible token) is something that is unique and can’t be replaced or changed for something else. For example, with cash, we could give you £10 and get two fivers (the same value) back. With something non-fungible, that’s impossible. You wouldn’t be happy with us doing a straight swap of your Audemars Piguet Royal Oak for an old-school basic Casio - or worse still, a fake.
So here we’re talking about something that is one-of-a-kind - an asset in a digital world.
Watch NFT’s at Luxe Watches
We’re very excited to be the first watch brand to create and offer an NFT in the form of a digital certificate which adds an extra layer of security to your sale or purchase.
Why? Because they can’t be replicated and so you can rest assured that the watch you are getting has been properly assessed for authenticity and condition.
And better still, we’re offering a free NFT to the first five customers to buy a watch from us and the first five to sell us theirs. (One available per customer)
How Do NFT’s Work?
Each certificate bears a unique number which is assigned to the individual serial number of the timepiece sold to or purchased from us.
Luxe Watches guarantees that the timepiece associated with the new certificate has undergone extensive verification checks including for authenticity and condition.
On the certificates, you’ll find the transaction date, price of the watch you’ve bought or sold, the watch brand and model, Luxe Watches’ reference, your unique customer ID and the signature of either our buying chief Jed Brailey or our sales guru, Oscar Strong. And to verify it’s the real deal, it also has the LW stamp of approval on it.
We’ve launched our NFT certificates and we’ve even got caricature NFTs of Jed and Oscar.
Which Watch Can I Get An NFT For?
You can get an NFT for almost any luxury watches including Rolex, Patek Philippe, Audemars Piguet, Jacob and Co and so much more.
Other famous NFTs
It’s certainly a trend that’s taking over, especially in the art world with the globe’s most expensive NFT artwork - Beeple’s Everydays: The First 5,000 Days - a collage consisting of 5,000 images measuring 21,069 x 21,069 pixels and bought at Christie’s for over £50 million.
The buyer of the NFT owns a ‘token’ that proves they own the original work. Having the original could be compared to having an autographed photograph, for example.
NFT tools can help you understand and make the process easier.
Do you have a luxury watch to sell to us?
Our experts are always open to offers to sell luxury watches. We particularly enjoy seeing rare or unusual pieces. And of course, if we do buy your watch, you’ll get your very own NFT.
If you’d like to make an appointment to see us at our Epping boutique you can do so here.