When Collecting Meets the Metaverse: A Look at WatchTime

This article was originally published in the Design 2023 Issue of the WatchTime print magazine.

Beyer Watches & Jewellery in Zurich, Switzerland, is the oldest jeweler in the world, at 262 years and counting. But this doesn’t prevent it from expressing youthfulness in other ways. Beyer introduced the Time Warp Collection in April 2022, a series of 30 virtual NFT watches designed by four very different creators — making Beyer the first jeweler to offer NFT watches. In normal circumstances, NFT objects are bought and sold with cryptocurrencies. Because Beyer wanted to offer this collection to anyone who is interested, not just the super tech-savvy, it was possible to buy the watches either with Ethereum or a credit card. The first 100 watches were “minted” (or introduced to the market) in an initial drop known as the “Genesis Drop” for $450. The purchaser received a “Mystery Watchbox” containing one of 30 models. The purchaser did not know in advance which one it will be. Despite this, or perhaps precisely because of the element of surprise, the first 100 watches were sold out in a few minutes. The second drop happened on June 29, with 382 NFTs priced at $950.