Luxury Italian watchmaker, Panerai, has announced that it will secure all future timepieces with a digital NFT passport. As a result, it will record the finer details of each high-quality device, as well as maintain its digital identity, and provide proof of ownership.
Starting from October 3, the noble and historic chronograph specialist will begin issuing NFTs alongside each purchase. Essentially, using the technology in a practical and useful way to maintain the security and ownership of its product. Once launched, buyers will then be able to claim the NFT at the point of purchase, or scan a QR code located on the items warranty card.
Alongside the obvious advantages, the Panerai digital NFT passport will also imbue additional benefits on owners. For starters, claiming the token will immediately extend the international warranty on the product, while the company has also hinted at future benefits for holders later down the line.
In order to facilitate its new move, Panerai has partnered with Web3 consumer and engagement platform, Arianee. Essentially, using its significant experience and knowledge to further enhance its brand, and engage with customers on a whole new level.
High End Watchmakers Innovate Through NFT Adoption
The latest development is not the first time Panerai has touched base with the world of non-fungible tokens, having debuted the technology in March 2022 with its Radiomir Eilean drop. This resulted in a move that put the company right at the center of a revolution in watchmaking. One that has seen the very top end of luxury timepieces seek to enhance their product and fight counterfeiting through the application of NFTs.
In the past, big-hitting chronographers such as DWISS, Bulgari, Tag Heur, Hublot, Timex and Casio have all turned to the humble NFT to elevate their products. As a result, the honorable pursuit of fashionable timepieces has positioned itself as a major player in advancing NFT technology!
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Decentralised human, Explorer, Adventurer.