The luxury jewelry and watchmaking brand Jacob & Co. put its hat into the NFT ring last week by releasing the first-ever NFT watch — and it fetched $100,000 at auction. 

The Jacob & Co. SF24 Tourbillion timepiece, a digital “piece unique,” reached the impressive amount in a 24-hour auction that began Wednesday on the ArtGails NFT platform. The buyer is not known at this time.

Like the IRL Epic SF24, from which the watch takes its aesthetic inspiration, the SF Tourbillon features a working split flap-system — like the kind of split-flap timetables you usually see in airports. However, instead of displaying city names, this system displays cryptocurrencies like Ethereum, Bitcoin, and Fantom, all in a ten-second animation that appears on the watch’s face. The watch even comes in its own digital box with a matching certificate.

Take a closer look via the video below.

So, why would someone drop $100K for a watch on the internet? Jacob & Co. has proven that there is a market for High-End Digital Assets (HELDAs) in the NFT space. Up to this point, although there have been blockbuster sales, bigger brands and luxury retailers have largely stayed out of NFTs, waiting to see if it is indeed a fad.

But if Benjamin Arabov, the newly named CEO of Jacob & Co., has anything to do with it, that will be about to change. “I’m elated that Jacob & Co. has become the first luxury brand to launch a successful NFT,” said Arabov, the newly named CEO of Jacob & Co., “We’ve proven that NFTs have a place in the watches and luxury world and I’m especially proud that we’re the pioneer in this new digital field.” He continued, “My hope is that this successful sale will pave the way for other luxury brands to start launching products and collections through NFT.”

Now, along with NFT socks, and sneakers, your online avatar can have all the accessories of your real-world self–it's all part of the process of recreating the real world with NFTs, one accessory at a time.

Head to ArtGrails to learn more about the auction.

What To Read Next

  • Image on Highsnobiety

    Telfar Has a New It-Bag in the Works

    Style
  • Image on Highsnobiety

    RIP Gawker (2023 Edition)

    Culture
  • Image on Highsnobiety

    Balenciaga Will Show at Paris Fashion Week

    Style
  • Image on Highsnobiety

    MSCHF's WD-40 Cologne Is the Workwear of Fragrance

    Style
  • Image on Highsnobiety

    EXCLUSIVE: Engineered Garments FW23: The Great Outdoors Demand Great Clothes

    Style
  • Image on Highsnobiety

    Seth Rogen Is Included in His $42/Night Airbnb Rental

    Culture
*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titelmedia (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titelmedia strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titelmedia has engaged UsableNet Inc, a leading web accessibility consultant to help test, remediate and maintain our Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.

Disclaimer

Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.