Italian luxury watchmaker Panerai has announced plans to include an NFT-based “digital passport” with every watch sold after October 3rd. The Panerai Digital Passport will serve as a record containing detailed information about the watch, establishing its digital identity and providing proof of authenticity at the time of purchase. To implement this blockchain-based digital passport, Panerai has partnered with Arianee, a Web3 solution provider.
The luxury brand will showcase this initiative at the upcoming Watches and Wonders exhibition in Shanghai. The transferable nature of the passport allows it to be passed on to subsequent owners, documenting the technical characteristics of the watch and its journey throughout its service life. The Panerai NFT Passport gives owners the added benefit of extending the international limited warranty on their watch for up to eight years.
The 163-year-old company expects the new feature to open the door to “further value-added services and advantages.” Panerai initially integrated Arianee technology in March 2022 into a limited edition of its Radiomir Eilean Experience watch. This exclusive release included one-of-a-kind NFT artwork and evolving content, with the digital passport playing a role in the artistic and experiential aspect of the offering. Now, with wider deployment, the focus is on utility and enhancing the customer experience, which aligns with Web3’s current prospects in the luxury industry.
Image: BOAT International
Source: Crypto News