Jacob & Co. is dipping its toes into the world of NFTs by releasing its first-ever NFT watch.

Dubbed “NFT SF24 Tourbillon,” the watch is one-of-a-kind and will be going on auction on ArtGrails with a starting bid of $1,000 USD. The watch boasts a working split-flap system, which displays different types of cryptocurrencies, like Bitcoin and Ethereum, in a short 10-second animation. The NFT SF24 Tourbillon will come with a digital box and a certificate.

Jacob & Co.’s CEO Benjamin Arabov expressed his hope for this new venture: “My hope is for Jacob & Co. to become the first luxury brand to launch a successful NFT and pave the way for other luxury brands to start launching products & collections through NFT. It’s not a matter of ‘if’ NFTs will have a place in the watches and luxury world, but ‘when.’ For Jacob & Co., the ‘when’ is now, and we are prepared to pioneer this shift.”

The NFT SF24 Tourbillon will go on auction on ArtGrails’ website starting April 4.

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