Italian luxury watch brand Panerai will include NFT-based digital passports with all watches purchased on or after October 3rd, 2023. Every digital passport comes with detailed information on the watch and acts as proof of authenticity. Panerai teamed up with Web3 solutions provider Arianee to develop its digital passports. The new digital passports were on display at the Watches and Wonders fair in Shanghai last month.
Panerai first tested the digital passport tech last year with a limited 50-piece run of its Radiomir Eilean Experience Edition watch. However, now, digital passport will be available for all Paneria watches.
Security for second-hand purchasers
Panerai watch owners can transfer their digital passports to a new owner upon selling them. The company believes this will aid in preventing the sale of counterfeit watches and bolster buyer confidence. Additionally, each passport will document the timepiece’s technical details and repairs.
“Committed to elevating the client experience, we continually adapt and innovate to align with the changing times,” says Panerai CEO Jean-Marc Pontroué. “We firmly believe that digital identities are poised to transform possession of valuable assets, enabling our clients to trace the lifecycle of their watches, prove authenticity, and benefit from bespoke services tailored to each timepiece.”
Warranty watch
Additionally, the NFT-based passport allows owners to extend the limited warranty on their timepieces up to eight years. Purchasers can activate their digital passports upon purchasing at a Panerai boutique or by scanning the QR code on the warranty card. After registering their watch, owners can record the lifecycle of the timepiece and easily transfer ownership both physically and digitally. Owners will also gain access to Pam.Guard a platform through which they can access the benefits of their digital passport.
“Panerai clients will be able to do anything you can do with an NFT you own in your wallet but without any of the stress and complexity of crypto tools,” Arianee co-founder and CEO Pierre-Nicolas Hurstel told Decrypt. “When they create their Pam.Guard account, a wallet is generated on the fly for them; the digital passport becomes their digital property, exactly like when you mint an NFT.”
Jack Brassell is a freelance journalist and aspiring novelist. Jack is a self-proclaimed nerd with a lifelong passion for storytelling. As an author, Jack writes mostly horror and young adult fantasy. Also an avid gamer, she works as the lead news editor at Hardcore Droid. When she isn't writing or playing games, she can often be found binge-watching Parks & Rec or The Office, proudly considering herself to be a cross between Leslie Knope and Pam Beasley.
