Italian luxury watchmaker Panerai has announced plans to include an NFT-based ‘digital passport’ with every watch sold after October 3. The Panerai Digital Passport will serve as a document 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 solutions provider.
The luxury brand will present this initiative at the upcoming Watches and Wonders fair 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 lifespan. 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 position will open the door to “further value-added services and benefits.” Panerai initially integrated Arianee technology into a limited edition of its Radiomir Eilean Experience watch in March 2022. This exclusive release included unique NFT artwork and evolving content, with the digital passport playing a role in the artistic and experiential aspect of the offering. Now, with a broader commitment, the focus is on usability and improving customer experience, which aligns with Web3’s current prospects in the luxury industry.
Image: BOOT International