The 3 part series, 1 of 3, timepieces
In those days, when cryptocurrency was more of an enigma than a meme, few people were willing to sail through the uncharted waters that were Bitcoin. Then came the revolution, and everything started to revolve around this little-understood method of money transfer. In no time, the value of bitcoin skyrocketed and those who were patient enough benefited as the value of Bitcoin superseded everyone's expectations.
CRYPTOMATIC: The first commemorative Bitcoin Watch
At the height of the first boom in 2014, CRYPTOMATIC, a traditional automatic movement and inexpensive watch was launched with the support of OSL, a cryptocurrency brokerage (under 500usd). The watch was launched in blue, the color of blockchain, due to the
negative association of bitcoin at the time, Shortly after that, the Bitcoin cryptocurrency market plunged into a bearish and prolonged cycle which lasted through 2016. This tested people’s faith in the new Currency but in 2017, CRYPTOMATIC received a huge break after Bitcoin started receiving mainstream attention and its prices stabilized. Finally, their patience and perseverance had paid off.
Then came Chronoswiss:
Although Chronoswiss is not a household name, it was still surprising a brand recognized the space. Chronoswiss produced a 101 piece limted edition Bitcoin watch, based on the Chronoswiss Flying Regulator Open Gear series. The watches could only be purchased through a cryptocurrency exchange called Zaif. The exchange was shortly after hacked, probably not the best exchange to have chosen. (Chronoswiss also made a Zaif edition watch)
The Big Guys Enter (and Try to Take the Prize)
Needless to say, it was petrifying for CRYPTOMATIC’s team after learning a few months later that OSL had entered into a partnership with watchmaker Hublot and launched a limited edition of their Meca-10 Big Bang model, changing its color to blue, adding a Bitcoin Logo and raising the retailing price to $25,000.
The comedy of it all was Hublot using the color blue, which makes no sense for Bitcoin, but there is the risks of copying your neighbor, you don’t get the back Hublot’s launched a media campaign starting from Forbes about their revolutionary invention. In the press releases, Hublot made claims such as:
“With the launch of the Big Bang Meca-10 P2P, Hublot has produced a first-time cryptocurrency watch”-which of course was a lie.
“It is the first watch to incorporate cryptocurrency and deal only with Bitcoin”-also another lie.
“We always strive to be unique in all that we do and in this case, we present to the world a watch that is only deals with Bitcoin”-once again, a lie
In reality, CRYPTOMATIC was the first company to produce a cryptocurrency watch and by the time Hublot was launching the Big Bang Meca-10 P2P, they already had 3 collections. Considering that the CRYPTOMATIC team had endured and survived the great winter of Bitcoin, they were definitely infuriated exasperated by these claims. So discussions of legal claims started between CRYPTOMATIC, OSL and Hublot.
Finally, the world’s first fully functional Bitcoin (BTC) watch
In the midst of this war, Swiss watchmaker Franck Muller staked its odds on the outcome and ultimately won. Unlike the previous versions from CRYPTOMATIC and Hublot, Frank Muller took the idea by storm and gave the world a fully functional Bitcoin watch. The watch, christened Encrypto is a master timepiece with a laser-etched QR code that functions as a public wallet where anyone can deposit their Bitcoins and even check the balance on their account. And it is nothing like its predecessors. I mean, it’s an overly original and sophisticated watch using what is popularly known as deep cold storage’ among bitcoin connoisseurs, and Franck Muller has brought a whole collection for all tastes to boot. The Encrypto was featured on an advertisement by Supercar Blondie where she acts like she is holding a USB holding 17 million USD, this was just advertising comedy since the timepieces are available with any iconic or milestone addresses from Franck Muller including a Mt Gox public address. The video is actually very funny, if you haven't seen it I highly suggest it. The video garnered 5 million views between Instagram and Facebook
Since time immemorial, Frank Muller Timepieces have been an icon of style, luxury, and extravagance, and the Encrypto is nothing less of this. Its craft is an ingenious and stylish blend of traditional Swiss watches and American watches from the 1930s. Even so, we can expect Frank Muller to update the watch with newer and more revolutionary features in the future as evidenced by their idea of creating the world’s first fully functional bitcoin watch.
next up, Bitcoin and exotic cars ...