Chronotriggered destroys watches... #8
or do I...
It's been a while hasn't it, and this isn't the intended eighth installment, but whilst that is being drawn up, a quick little jaunt into the 'triggered cinematic universe with everyone's favorite privileged a hole who thinks everything he says is right because he's had everything given to him. Everything. I think this flows perfectly into this next chapter.
What do you give the watch collector who has everything?
I was thinking about NFTs for some reason (I think @Eris_Goddess_of_Discord forwarded me a link to some awful QR code inspired monstrosity) and I recalled that there are a few watches that have links to an NFT: Bulova Computron D-Cave, Bvlgari Octo Finissimo Ultra, H Moser & Cie Endeavour Centre Seconds Genesis... The funny thing is, these are actually physical watches tied into an NFT for a premium.
Did you know that we have NFT watches?
You what mate?
NFT watches - watches that exist purely as digitally rendered substitutes for the real thing. Rare collectibles that are otherwise unattainable to average folk. Digital tokens and trinkets that allow access to hidden immersive experiences, that double-up as wearable paraphernalia in the Metaverse, and unlock exclusive perks for users or allow them VIP access to events.
Anything digital can be traded and sold as an NFT: images, music, videos... A nonfungible token, or NFT, is a digital asset that establishes authenticity and ownership and can be verified on a blockchain network. It is a way to claim ownership of a digital file and is comparable to a certificate of authenticity you might get if you buy something valuable, like a watch.
So...
The first watch NFT to go on sale was the Bigger Bang All Black Tourbillon Chronograph Special Piece, offered by Jean-Claude Biver and Swiss cybersecurity company WISeKey. It was auctioned on Open.Sea NFT MarketPlace in March 2021. This NFT was a digital photograph (or a “digital twin”) that he took of the prototype Hublot Bigger Bang All Black Tourbillon Chronograph in his private collection. (“I would never sell the watch,” he said. “It is true reference, and the genesis of every model made since 2005 by Hublot”). It was accompanied by a code-stamped, cryptographic signature that provided a record of the image’s authenticity and provenance, stored on a blockchain. The physical watch would remain as part of Biver’s personal collection.
Bidding for the incorruptible digital file of the watch reportedly reached 25 ethers ($52,825 at the then current ether to dollar exchange rate), but whether there was a final sale is still up for debate.
Around the same time, Jacob & Co were beginning to prepare for the live auction of a 3D animation of its limited-edition Epic SF24 Tourbillon. “Our watch NFT is a purely digital, tokenized asset that only exists in the digital space,” the CEO of Jacob & Company, Benjamin Arabov, said during a video interview on March 30th, 2021. After a couple of de-railed auctions, where hackers were reported to have ruined proceedings with extortionate bids, on April 7th during a 24-hour action the final price was 50.74 ether, around $100,000. Jacob & Co presented the Epic SF24 Tourbillon with a paper certificate and storage box fitted with a hard drive to store the token.
And then the floodgates opened...
Yeah, it's mad; so I suppose this installment is for one of two things, how do you feel about NFT watches, and if you had to rewind to March 2021, which one of these would you ensure never even happened and hopefully stopped this concept from ever gaining traction if that is your intended desire?
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Chris
You have woken me from a particularly good dream…
London
Member since
Last active: 2 hrs ago
7.50” / 19.05 cm
Today I have learned about NFTs!
I chose the uglier watch.
You forgot the "Both" option in your poll
Believe it or not, I've seen non tokenized versions of both of these watches in person (rose gold bigger bang and a ceramic(?) version of the SF24). Don't ask me how, but many layers of friends of friends.
The Bigger Bang is not...bad. Too big of course, but I didn't hate it and (divorced from the price) I could see myself wearing it. Tourbillon Openwerk dials are illegible regardless of who makes them and this is actually finished in a lovely manner if you like that blacked out aesthetic.
The Jacob and Co is mechanically cool but feels too much like I'm reading a scroll which is an incredibly odd experience for a watch. Id on't know that I would ever be able to get over it. Burn it in flames.
But as they're both tokenized, burning them is self defeating. Blockchain 4 EVA.
You forgot the "Both" option in your poll
Believe me, it was hard not to stray from the format for this. It’s probably one of the most uncomfortable bits of research I’ve undertaken.
Believe it or not, I've seen non tokenized versions of both of these watches in person (rose gold bigger bang and a ceramic(?) version of the SF24). Don't ask me how, but many layers of friends of friends.
The Bigger Bang is not...bad. Too big of course, but I didn't hate it and (divorced from the price) I could see myself wearing it. Tourbillon Openwerk dials are illegible regardless of who makes them and this is actually finished in a lovely manner if you like that blacked out aesthetic.
The Jacob and Co is mechanically cool but feels too much like I'm reading a scroll which is an incredibly odd experience for a watch. Id on't know that I would ever be able to get over it. Burn it in flames.
But as they're both tokenized, burning them is self defeating. Blockchain 4 EVA.
This is also why I think these are pretty nasty - the Hublot is in Biver’s private collection, but it’s the prototype, so it looks no different from a “blacked-out” Big Bang. The Jacob&Co is an animation of an actual watch they made, but just NFT’d. There is nothing really special about them other than these are probably the first NFT watches. The next one was a Ressence Spymaster which Sothebys auctioned in Hong Kong in April last year. Then we have the physical/digital combinations. It‘s madness…
This is also why I think these are pretty nasty - the Hublot is in Biver’s private collection, but it’s the prototype, so it looks no different from a “blacked-out” Big Bang. The Jacob&Co is an animation of an actual watch they made, but just NFT’d. There is nothing really special about them other than these are probably the first NFT watches. The next one was a Ressence Spymaster which Sothebys auctioned in Hong Kong in April last year. Then we have the physical/digital combinations. It‘s madness…
You know, maybe this is just Darwinian. The more money that flows into these insanities, the less is leftover for actual physical watches that the rest of us buy.
Maybe both of these are great things for our hobby.
You know, maybe this is just Darwinian. The more money that flows into these insanities, the less is leftover for actual physical watches that the rest of us buy.
Maybe both of these are great things for our hobby.
Maybe, although I doubt it will make (a) the Hublot more affordable, or likeable within the general horologosphere, and (b) make Jacob&Co seem more attractive to anyone.
I suppose rich people need to fritter their money away on something, why not digital horological Pokemon cards?
This NFT thing for watches sounds totally insane. Is there a functional market place for these if you get bored with your NFT and want to trade it for another NFT? You maybe need a car NFT all of a sudden.
Neither. Both watches and their digital representations are horrendous.
Neither. Both watches and their digital representations are horrendous.
Oh come now… you know the rules, it’s episode 8. This isn’t supposed to be easy. 😂
You forgot the "Both" option in your poll
Im with ya but that hublot needs to die lol
NFTs are absolute idiocy at its summit
NFTs are absolute idiocy at its summit
Yes - this is is peak lunacy.
Im with ya but that hublot needs to die lol
Yes - obligatory Nico meme inbound.
I suppose if that physical Hublot was destroyed then it would have had severe ramifications for the brand back in 2005, but not so much 2021.
It's funny you pick the Hublot as that is the one that might not have sold, but the Jacob&Co did - surely that makes the Jacob&Co more concerning as it legitimises this practice?
Yes - as its on a blockchain it lives forever, digitally, until the power runs out.
When the Earth becomes an intergalactic hard drive enclosure for a far more superior race of space-travelling lifeforms, what would they think of this nonsense?
Yes - obligatory Nico meme inbound.
I suppose if that physical Hublot was destroyed then it would have had severe ramifications for the brand back in 2005, but not so much 2021.
It's funny you pick the Hublot as that is the one that might not have sold, but the Jacob&Co did - surely that makes the Jacob&Co more concerning as it legitimises this practice?
I see jacob and co as a novelty watch maker and not a part of serious horology. They develop some interesting howbeit outragous watches. If thats your thing and you want to pay out the butt go for it. But thats on you lol.
I see jacob and co as a novelty watch maker and not a part of serious horology. They develop some interesting howbeit outragous watches. If thats your thing and you want to pay out the butt go for it. But thats on you lol.
I don't own a Jacob&Co, but I appreciate that they are not particularly well received. I just wondered if having the first confirmed sale of a watch NFT would be more egregious rather than the first attempt, but it seems Hublot hate is unconditional. No worries.
NFTs are absolute idiocy at its summit
Umm, no, they aren't. I'm all for them. Let me explain: many works (of art) are made digitally these days. I'm an illustrator, and I don't use ink or oil on canvas any more - everything's made digitally. So is a lot of film, or music, or art. So, how can somebody buy an ORIGINAL work of art that never existed in a physical form in the first place? It's not like a painting on a frame, or a sculpture, that only exists once. How can a digital artist make any money selling his work, when everything digital can be copied 1:1? So what's needed is a fake-proof certificate of authenticity for an original (or a limited edition) of something digital - a NFT.
Of course you can NFT even the stupidest crap, just like you can call any horrid painting an art. If somebody's willing to buy it, wahey!
Especially now with the hype still high, people are buying NFTs of amazingly daft stuff. But, that'll flatten out pretty soon, and NFTs will be seen as what they are: just another collectible. A practical one too, as it doesn't clutter up your pad :)
Umm, no, they aren't. I'm all for them. Let me explain: many works (of art) are made digitally these days. I'm an illustrator, and I don't use ink or oil on canvas any more - everything's made digitally. So is a lot of film, or music, or art. So, how can somebody buy an ORIGINAL work of art that never existed in a physical form in the first place? It's not like a painting on a frame, or a sculpture, that only exists once. How can a digital artist make any money selling his work, when everything digital can be copied 1:1? So what's needed is a fake-proof certificate of authenticity for an original (or a limited edition) of something digital - a NFT.
Of course you can NFT even the stupidest crap, just like you can call any horrid painting an art. If somebody's willing to buy it, wahey!
Especially now with the hype still high, people are buying NFTs of amazingly daft stuff. But, that'll flatten out pretty soon, and NFTs will be seen as what they are: just another collectible. A practical one too, as it doesn't clutter up your pad :)
They are not all bad - I have investigated the application of them for certain media, but one of the issues is that the market is unregulated and ripe for exploitation. I also know a couple of creators who dabbled, and it was not as simple as it seems to be. As you infer, some of it is stupid crap, but again, if people want to pay for it then good for them.
In terms of an NFT watch though in these two early examples, I do believe it is peak lunacy. A lot has changed in 18 months: Breitling do use blockchain in terms of a digital watch passport, similar to the papers, and there is some mileage there. The NFT + physical watch combos can also be interesting - the Bvlgari and H Moser & Cie are tied into something Metaversal, which could be an avenue with a lot of potential (albeit with a high price of entry right now). It is very early days.
They are not all bad - I have investigated the application of them for certain media, but one of the issues is that the market is unregulated and ripe for exploitation. I also know a couple of creators who dabbled, and it was not as simple as it seems to be. As you infer, some of it is stupid crap, but again, if people want to pay for it then good for them.
In terms of an NFT watch though in these two early examples, I do believe it is peak lunacy. A lot has changed in 18 months: Breitling do use blockchain in terms of a digital watch passport, similar to the papers, and there is some mileage there. The NFT + physical watch combos can also be interesting - the Bvlgari and H Moser & Cie are tied into something Metaversal, which could be an avenue with a lot of potential (albeit with a high price of entry right now). It is very early days.
I agree. I'm very interested in how the whole thing develops, as I believe it's still very much in its infancy. My prediction is it'll soon be common for artists - hell, everybody! - to NFT their stuff, and there'll prob. be an Ebay for that. And there'll be some primo techno-thrillers about cyber-thieves stealing them :)
I agree. I'm very interested in how the whole thing develops, as I believe it's still very much in its infancy. My prediction is it'll soon be common for artists - hell, everybody! - to NFT their stuff, and there'll prob. be an Ebay for that. And there'll be some primo techno-thrillers about cyber-thieves stealing them :)
Technically they already exist - I'd recommend William Gibson, who also has some brilliant writings on watches...
Technically they already exist - I'd recommend William Gibson, who also has some brilliant writings on watches...
Interesting! I didn't know he was a watch guy. Good taste too :)
That's a hard one, but i did vote for the Jacob and Co on this one, also good things NFTs are pretty much dead.