Who is really clear on what NFTs are? Who has already bought some?
The Non-Fungible Token is a non-replicable (encrypted) virtual 'token' that certifies lauthenticity and the ownership of a digital or physical asset. It is no coincidence that NFTs are succeeding in the art market, with exploits of six-figure sums paid for certified digital works (such as, for example, a jpg file).
It may sound crazy, but in the hybrid world in which the new generations live, there is nothing crazy about it. La town square, where people went out 'strolling' to show lhe latest Nike model is now online and is called 'social'. And it may soon move again, into the metaverse.
In watchmaking, NFTs are becoming increasingly popular in recent months. The most expensive 'watchmaking' token sold to date, however, is not a watch. But an 'accessory', combined with Gérald Genta's original sketch of the first Royal Oak, sold at Sotheby's for 546,500 Swiss francs. The sketch was in fact accompanied by a digital certificate in the form of an NFT.
One producer who has experimented commercially with Non-Fungible Tokens, in a form similar to the art market, is Louis Moinet. La Casa, in February, sold a virtual Space Revolution for EUR 472 (0.2 Ethereum), on the exclusible(.com) platform.
In this case, the question I ask myself is: does it make sense to propose the digital version of a watch 380,000 for the price of a pair of shoes? I think if I were lbuyer of a watch hundreds of thousands of euros, I would be disturbed to see someone 'sporting in the metaverse' the same watchbut paid 1,000 times less. E the proposal in the virtual world of such cheap 'objects' compared to their real counterparts, does not diminish l'exclusivity of a brand whose entry price today is 10,000 euro?
In conclusion, it should not be underestimated that real and virtual are rapidly merging into one world.
Yet, I am not left with the doubt that lenthusiasm for NFTs on the part of the watch industry is just... much ado about nothing.
Dody Giussani
