Luxury Swiss watchmaker A. Favre & Fils is set on leading mechanical timepieces into the blockchain age by incorporating a crypto cold-storage wallet inside one of its watches.
The watch will cost between $102,000 and $153,000, or the equivalent in cryptocurrency, and is targeted to be available in late spring or early summer. A prototype has not yet been made although the design for the watch has been worked out.
Safety features will be added in case the watch is lost, stolen, or destroyed. Its cold wallet device will keep cryptocurrencies safe when not in use. A. Favre & Fils has not revealed, however, details on these features or how the crypto wallet will operate.
Laurent Favre, the tenth generation of the 300-year-old company, believes marrying the traditional with the new will keep mechanical watchmaking relevant in current times, noted swissinfo.ch.
This watch “offers something useful to the crypto community, not just something to spend their money on,” he added.