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Do You Need a $150,000 Crypto Wallet Luxury Watch?

Distributed Summary:

  • Swiss watchmaker announced plans for a “handcrafted mechanical timepiece” with a built-in crypto cold wallet, to launch prototype in Q2
  • Product will reportedly cost between $100,000 and $150,000
  • Team includes former CEO of Omega and president of Crypto Valley Association

The Swiss watchmaking company A. Favre & Fils has announced plans for a “handcrafted mechanical timepiece with a built-in crypto-currency cold wallet and state-of-the-art security solution.” The company told CoinDesk the luxury watch would run between $100,000 and $150,000.

Additional technical details on the wallet aren’t available on the company’s site, and it doesn’t plan to launch a prototype until the second quarter of this year. The project seems to be a collaboration between watchmakers and crypto entrepreneurs. Advisors listed on the website include Stephen Urquhart, former CEO of Omega, and Oliver Bussmann, a former executive with UBS, SAP and IBM and the president of the Crypto Valley Association.

“I am very excited about this new piece and the vision it creates for the Swiss watchmaking industry,” Lauren Favre, CEO of A. Favre & Fils, said on its website. “We have developed this first timepiece with the idea of offering something useful for the crypto-community, not simply something to spend their money on.”

While the goal may be to offer a truly functional luxury product for the crypto community, the price tag for this hybrid timepiece and cold storage wallet may hit the wrong mark, particularly in the depths of crypto winter. For reference, a Ledger Nano S retails for about $60.

Storing your crypto on one of these watches may be an extravagant flex, but at least control of your keys would be right there on your wrist.

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