A private watch collector in the Middle East has made headlines by creating the first-ever Patek Phillippe NFT with no less than the now-discontinued Nautilus timepiece. Working with SM-ART, the NFT is is scheduled to be auctioned off on its platform across a three-day period in mid-November.
“When we were approached by the owner to help him create an NFT for his Nautilus watch, we jumped at the opportunity,” said Danny Sangha, co-founder of SM-ART. “Our entire mission for this platform is to bring fine art, rare collectibles and objets d’art back into the world again. So many beautiful pieces sit in vaults hidden away from pubic view – never seen and never appreciated. We wanted to discover a way to breathe life back into these works of art through a new medium. NFT’s are a way to do that, a way for people to be able to enjoy and own these pieces through a digital construct.”
This NFT allows individuals to invest in a piece of watchmaking’s history. The Nautilus 5711/1A-010 is a rare timepiece that is no longer being produced yet continues to appreciate in value and demand. By extension, the NFT will see similar demand, reinventing the iconic watch in an entirely new format.
“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.”
The full NFT will not be revealed until the day of the auction. SM-ART will announce the specific auction date on its social media channels and website.