- Panerai introduces a blockchain-powered digital passport for its watches starting October 3.
- The passport is transferable and provides detailed information about the watch, from its technical details to its ownership journey.
- Panerai watch owners can easily claim their digital passport either in-store or via a QR Code on the warranty card.
Panerai, the renowned Italian luxury watchmaker, has unveiled its latest initiative,a blockchain-powered “digital passport” for its watches. Beginning October 3, every Panerai watch purchase will come with this innovative feature, a testament to the brand’s commitment to authenticity and transparency.
“🚀 Wow! Panerai is taking luxury watches to a whole new level by including a #NFT ‘Digital Passport’ with every timepiece! 🌟 This innovative move ensures authenticity and brings exciting benefits. Get ready to own a piece of digital exclusivity! 👏🏼🔥 #Panerai #LuxuryWatches” pic.twitter.com/AhAkQtAOMd
— NFTs Insights (@NFTsInsights) September 13, 2023
This move isn’t Panerai’s first foray into the world of digital authentication. In 2022, the brand introduced a similar project. The enhanced digital passport now offers detailed information about each watch, serving as a robust proof of authenticity. This initiative aims to tackle the persistent issue of counterfeit watches, ensuring confidence for buyers in the secondary market.
Web3 solutions provider Arianee played a pivotal role in this venture. Their partnership with Panerai has made the blockchain-backed digital passport a reality. Not just a mere certificate, this passport is transferable. It meticulously documents the watch’s technical specifics and its entire journey, from manufacture to sale. Such transparency is a boon for the secondary watch market, where authenticity is paramount.
Speaking of the secondary market, its scale is immense. In 2022 alone, sales of pre-owned timepieces reached a staggering $27 billion, equivalent to 25 million euros. Panerai’s digital passport offers more than just authentication. Watch owners can extend their warranty to a generous eight years, an added incentive to register their timepiece.
Panerai’s initial collaboration with Arianee in March 2022 centered on a limited edition watch. That project highlighted the artistic and experiential facets of the brand. With the broader introduction of the digital passport, the focus has shifted to practicality. Jean Marc Pontroué, Panerai’s CEO, expressed the brand’s conviction. He believes digital identities could revolutionize how we view valuable assets.
Claiming this digital passport is a breeze for Panerai watch owners. At the point of purchase in boutiques or by simply scanning a QR Code on the warranty card, it’s theirs. Once claimed, the passport is accessible via the Pam.Guard platform. This platform offers a plethora of benefits, creating a secure digital space for owners to chronicle their watch’s milestones.
Arianee’s influence in the luxury watch sector is undeniable. Their partnerships span brands like Breitling, L’Oreal, Moncler, and Lacoste. With the introduction of Panerai’s digital passport, the customer experience reaches new heights. Owners can now trace their watch’s history, confirm its authenticity, and enjoy tailored services.