Rolex Falls To NFT And Web3, Here's Proof!

Rolex Deepsea Challenge's newest watch. (Photo; Doc. Rolex)

JAKARTA Swiss luxury watch manufacturer Rolex is starting to enter the world of Web3 and NFT. This is evidenced by a number of documents showing Rolex registered patents for NFT digital collections, other blockchain-based software.

Based on data launched by Michael Kondoudis, a lawyer and trademark and patent, Rolex has filed trademark applications related to cryptocurrencies, metaverses, and non-fungible tokens (NFTs), on 7 November.

In particular, luxury watch maker trademark apps also suggest plans to introduce NFT, NFT-backed media, NFT marketplaces, virtual keys and crypto transactions, virtual goods auctions, as well as virtual and cryptocurrency exchanges.

According to an NFT Evening report, Rolex submitted a trademark to the United States Patent and Trademark Office (USPTO) on October 31, 2022, which includes soft software downloadable for blockchain technology,digital wallets, online space for virtual product buyers and sellers such as watches and spare parts, placement of virtual environmental products, and more.

Rolex has looked at future potential markets through the metaverse. Rolex's entry into the metaverse and web3 industries follows a number of other giant companies such as Tag Heuer, Samsung, Adidas, Nike, and so on. Registration of the patent allows Rolex to present its latest digital watch.

Rolex products are already considered collectibles. The Swiss company now offers a different experience in the digital space with potential market targets.

Big companies around the world are entering web3 with similar submissions. Although, it is interesting to see that Rolex has chosen to surpass just regular NFT drops or releases. The NFT Rolex Market opens up a large amount of potential collaboration, utility, and ideas.

Known for its luxury watch products, Rolex prioritizes quality and design, as well as scarcity of materials in the process of making watches. One of Rolex's most expensive watches is Paul Newman's Rolex total which sells for 17.8 million US dollars (equivalent to IDR 276 billion).

According to Luxe Digital, however, this most expensive Rolexmen are neither so rare nor made of precious materials. But his unique story is the most popular thing a watch collector is. This watch was given to Paul Newman by his wife,ORdy Woodward, when he played in the film "Winning".