When it comes to luxury timepieces, there is nothing more important than authenticity. Being one-of-one matters. Being part of the history and tradition of the watchmaking craft matters. Being traceable and transparent for consumers matters.
If the object is not real, a host of issues, including harmful social, environmental and economic consequences, also become very real.
Yet, the Swiss watch industry alone loses 2 billion CHF each year to counterfeiting, amounting to tens of millions of counterfeit watches changing hands. In France, over 37% of consumers have purchased counterfeit products without even realizing it. Both the collectors and the sellers need better attribution of accuracy in the market.
ORIGYN Foundation will now partner with WatchBox to issue utility NFTs for luxury timepieces. These NFTs will serve as a certificate of authenticity and provenance, which are designed to make the trading of ownership faster, safer and more secure.
WatchBox has been a trusted destination for authentic, collectible watches for many years. Now, ORIGYN’s biometric technology will provide an additional layer of protection, augmenting the authentication and certification process while encrypting all of the data and the fingerprint of the watch in a utility NFT. This will also provide a host of new services and offerings to clients only enabled through blockchain technology.
“Discerning clients have long trusted WatchBox to purchase authentic, collectible watches, and our partnership with ORIGYN will extend this proof of authenticity to the blockchain,” said Justin Reis, CEO of WatchBox. “We are excited to provide our clients and community with access to a web3 authenticity certificate, exclusive blockchain-native content and services, and the ability to digitally trade watches through our partnership with ORIGYN.”
We are proud to bring NFT certification to physical products. Learn more about our partnership with WatchBox here.
