Smartwatches have never been cheap, but thanks to the chip shortage, they’re even more expensive now than ever before. Premium and smartwatches have seen an average growth rate of more than 40% as of late due to a plethora of factors including grey market dealers, long waiting lists, and the COVID-19 pandemic, where unspent monies often got spent on luxury assets, like watches.
Well, watchmaker Chronoface has the solution and a very creative one at that. The company announced its plans to launch digital watches in the form of NFTs in the second half of 2022. These digital watches (not the kind of digital watches that come to mind when we use the word) can be purchased online easily at transparent prices which give them true valuations as well.
Chronoface has created a wide collection of face designs and is also working with brands and artists to produce different collections to serve different markets. Chronoface NFT holders can access their mobile app devices where they can pair their NFT faces to almost any smartwatch. Each watch is unique and no other user can own the same face.
The company also outlined its plans to provide a marketplace for NFT smartwatch users to buy, sell, and trade content. Even better, Chronoface has plans to get these watches up and running in a future metaverse, where users can wear the watches in their avatars and explore Chronoface’s storefront in the metaverse.
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