The buzzword these days is the metaverse (not to be confused with the multiverse), and even a high-end watchmaker with a rich legacy like Panerai couldn't resist the allure of this digital realm.
Meet the Radiomir Eilean Experience Edition, available in only 50 pieces, each accompanied with a one-of-kind NFT art. The name of the watch refers to the Eilean yacht that was lovingly restored by Panerai; bronze salvaged from Eilean during the restoration now appears as part of its 45mm case.
Along with the NFT art, which will be uniquely time-stamped, the digital asset also unlocks exclusive content—for instance, exclusive services, events and offerings as well as priority access to future Web3 initiatives.
According to CEO Jean-Marc Pontroue, the decision to enter this realm is essentially motivated by Panerai's DNA as an innovator and a pioneer—with more than a little nudge from his own children.
"I have two sons, 25 and 28, who spend their days and nights telling me I’m an old guy. Even if you’re in a big [watch] brand that is very open to new technology, nothing is better than having kids around you telling you that you have to wake up," he says. "You're dead if you only think within the confines of Switzerland or the watch industry. [This] NFT concept is testament to our brand positioning as a pioneer in many aspects of its business, its products, its experiences."
Panerai is working with Arianee on this Web3 project.
"The beauty of our brand is that it’s half Italian, half Swiss, allowing us to be much more daring than most of the other watchmakers. It's very important that we surprise our customers in the Panerai story. Technology is the next frontier offering limitless potential, and Panerai is at the leading edge in that arena too. Through the creation of our first NFTs, the brand will use dynamic new measures to respond to our customers and allow them to enhance the ownership of their treasured Panerai watches,” shares Pontroue.