Swiss luxury watch manufacturer A. Favre & Fils has announced the launch of mechanical timepiece with a built-in crypto wallet. The pre-production model of the watch will be launched during the Q2 of 2019.
According to the press release, the launch of a unique next-generation timepiece “merges 300 years of fine watchmaking ‘savoir-faire’ and innovation bringing together.”
“We have developed this first timepiece with the idea of offering something useful for the crypto-community, not simply something to spend their money on,” Laurent Favre, CEO of A. Favre & Fils, said.
A. Favre & Fils are collaborating with people from the cryptocurrency space in the creation of this watch, notably with Francesco Abbate, the co-founder and CEO of advisory firm Swiss Crypto Advisors (SCA), as well as Omar Ulrich, another co-founder and board member of SCA. The watch project also features French video game company Ubisoft and non-profit organization for the gold supply chain, Swiss Better Gold Association, as their partners.
This is not the first time that luxury item manufacturer jumped into the crypto world. In April 2018, Ancora1919 announced their line of luxury pens with crypto motifs, also accepting cryptocurrencies as a payment option for the product. Another Swiss luxury watchmaker Hublot announced their foray into the space last September: a special kind of watch, named the Big Bang Blockchain that can be bought with bitcoin.