Patek Philippe 'Nautilus' timepiece up for auction as NFT by SM-AR
Founded in 1839, Patek Philippe, a Swiss luxury watch and clock manufacturer, is being driven into the NFT industry with the manufacture and fractionalized auction of the extremely rare and now discontinued 'Nautilus' timepiece auction, led by SM-ART.
Patek Philippe 'Nautilus' timepiece NFT auction
The Patek Philippe 'Nautilus' timepiece non-fungible token (NFT) was created by a private owner of the watch in the Middle East. The 'Nautilus' is one of the most chased-after timepieces from the Swiss brand. According to the press release, the auction will take place on the SM-ART platform and will last for a period of 3 days. The starting date for the auction is yet to be revealed but is expected sometime 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 the co-founder of SM-ART platform, Danny Sangha.Patek Philippe is one of the biggest names in the watch industry and has made a name in the pages of history books. The new 'Nautilus' NFT has given a chance to a blockchain-enthusiasts to become a part of something bigger and earn an exotic historical treasure in the form of a digital asset. The Patek Philippe Nautilus 5711/1A-010 is a rare watch that has become the center of attention and a collector's item for many.
SM-ART, an NFT and NFA platform, is focused on preserving historical treasures of monumental value and bringing them to the digital public, allowing them to buy digital assets in fractions.
"While there are very brief sneak peeks of the NFT on our website, the full NFT won't be revealed until the day of the auction. We will be announcing the auction dates soon on our social media channels and websites, but it will be around mid-November. It's an incredible investment opportunity for someone, aand the NFT will only continue to appreciate in value along side the value of the watch itself," Sangha added.Furthermore, the platform will allow people to own a fraction of the NFT for as low as $100 using the Ethereum ERC20 protocol and these fractions can be traded on any NFT marketplace like OpenSea. As a part of the deal, SM-ART will be taking 3% as a business.
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