A very unique auction is slated to go underway at the ArtGrails, which centers on a Jacob & Co timepiece that’s not even made for the real world. The first NFT – non-fungible tokes – luxury watch titled NFT SF24 Tourbillon will be sold in a 24-hour auction kicking off on April 7. The starting bid is based at $1000 and the sale is expected to exceed expectations.
A three-dimensional digital animation of the watchmaker’s Epic SF24 – the most revolutionary take on traveler’s watch– the NFT SF24 will include a Tourbillon, which isn’t a part of the Epic SF24 it is based on.
The idea
Besides being the first NFT timepiece to hit the luxury watch market, the NFT SF24 Tourbillon is a proof of concept that Jacob & Co is trying to set a new dimension in the watchmaking trail no other brand has tried to tread.
Frank Muller has luxury watches that function as Bitcoin wallet, but Jacob & Co’s take is a stride into the growing social phenomenon – NFT – the encrypted unit of data in blockchain. For this, the new iteration replaces the original watch’s proprietary 24-city list on the split-flap display with names of 10 cryptocurrencies such as Bitcoin, Ethereum etc.
The auction
The timepiece that exists virtually is nonetheless exceptional with the unique display on top of the dial displaying the cryptocurrencies along with a moving tourbillon. As mentioned above, the watch will go on auction for 24 hours starting April 7 and ending on April 8 at 1pm EST.
Designed primarily to tap on the expected demand for high-end luxury digital assets, the NFT SF24 Tourbillon will be sold to the highest bidder with a certificate of authenticity and a unique box along with digital asset.