NFT watches fit for the metaverse future are already selling for up to four times the value of some of Rolex’s most iconic timepieces.
A largely unheard of 29-year-old from Chicago has made tens of thousands from NFTs after noticing a gap in the market.
Sold under his own brand “Generative Watches”, Jesus Calderon was ahead of the curve in creating digitally rendered timekeepers.
While he originally started selling his watches for 0.1ETH – approximately $300 at the time – the rarity of his products has seen their price skyrocket.
The motion graphics designer has created 1,000 “spoof” versions of famous watches in the real world.
Replicating Rolex’s Datyona model, he is currently selling a “Rodex Daitona #0010” for 20ETH ($76,500).
On the Rolex website, a Daytona can be bought for a starting price of $18,000.
Calderon said recently: “It makes sense to have certain rarity traits
“So, in my very first collection, I did the same watch in different editions.”
Drawing parallels to the real world watches market, he highlighted how the limited number of watches in different editions had helped inflate prices.
He added: “Basically the digital equivalent to that would be, in my eyes, rarity traits like different colours, different materials, different dials and arms.”
In one example of an incredible mark up, he gave away one of his Demøn Bitmariner NFTs for free in a competition, with the winner then going on to sell the watch for 6.6ETH, approximately $20,000.
A Demøn Bitmariner is currently on sale here.
While the NFTs currently can be stored on a hard drive, or shared on social media, Calderon is hoping that his Generative Watches will soon transcend into the metaverse.
He hopes avatars will be able to wear his designs and see them in 3D form on their wrist.
Although Calderon may have beaten many watchmakers to the market, renowned wristwatch retailed Jacob & Co have also been quick to realise the potential of NFTs.
Last April the company sold its SF24 Tourbillon digital timepiece at auction.
It was bought for a price of approximately $100,000.
At the time, Jacob & Co’s CEO, Benjamin Arabov, said: “We’ve proven that NFTs have a place in the watches and luxury world,
“I’m especially proud that we’re the pioneer in this new digital field.
“We anticipate that NFTs are here for the long term and there will be a whole generation of people who will only grow up knowing NFTs.
“My hope is that this successful sale will pave the way for other luxury brands to start launching products and collections through NFT.”
