The luxury watchmaking brand, Patek Philippe, has rendered the first ever NFT of a watch from the brand. The rare and now discontinued ‘Nautilus’ time piece is now embodied in an NFT, created by the private owner of the watch in the MENA region. the NFT will be auctioned off on the SM-ART platform, which preserves and curates fine art masterpieces, objets d’art and high-value collectibles through the new medium of NFTs and NFAs. The auction will extend over a 3-day period from mid November.
The SM-ART platform itself is making history – a first of its kind, non-fungible token (NFT) and non-fungible asset (NFA) platform, which focuses on preserving and reinvigorating high-value collectibles by bringing them forward into the digital public domain, making them accessible to new generations with the hope of inspiring tomorrow’s burgeoning artists.
The first ever Patek Philippe NFT timepiece has created a once-in-a-lifetime opportunity for members of the public to take ownership and invest in a piece of history.
The Nautilus 5711/1A-010 is a rare watch that is no longer in production and continues to appreciate in value and demand and by proxy, creating the same demand for the NFT. Through a new blazing display of this time-honoured piece, the Nautilus’ legacy carries on in NFT form, harnessing on progressive innovation and creativity.
“SM-ART has proven that NFT’s have a place in the luxury world and we are especially proud that we’re pioneers in this new digital field,” says Robina Latham, co-founder of SM-ART. “It’s incredibly important to us that each NFT is carefully curated, selected and verified by our experts. We work with private collectors, artists, museums and galleries to ensure these NFT’s are based on the real artworks or a new original piece is conceived by the artists themselves. This NFT of the Patek Philippe ‘Nautilus’ is a case in point – the response we’ve received so far has been overwhelming and we are excited to see this NFT make history at auction.”
“The NFT of the Patek Philippe ‘Nautilus’ is as groundbreaking and unconventional as the watch was in its time and we wanted to pay homage to that,” says Sangha. “We were very cognisant of the craftsmanship that went into it and have taken the same care with the NFT development. While there are very brief sneak peaks of the NFT on our website, the full NFT won’t be revealed until the day of auction. We will be announcing the auction dates soon on our social media channels and websites, but it will be around mid-November. It’s an incredible investment opportunity for someone and the NFT will only continue to appreciate in value along side the value of the watch itself.”
Following the completion of the NFT auction, the physical ‘Nautilus’ watch will be fractionalised through a non-fungible asset (NFA), where members of the public who are registered on the SM- ART platform can buy shares of the actual timepiece and trade those shares, as the value of the timepiece continues to increase in demand.
SM-ART preserves and curates fine art masterpieces, objets d’art and high-value collectibles through the new medium of NFTs and NFAs – bringing them back into the public domain to be enjoyed by new generations and inspire tomorrow’s artists. A portion of all sales are donated to the NFT/NFA owner’s charity of choice and to global tree-planting initiatives to help offset the carbon footprint of SM-ART, who believe in sustainable leadership through humanitarian and environmental actions.