NFT Based Digital Passport from Panerai

Italian luxury watch manufacturer Panerai announced that it plans to add an NFT-based “digital passport” to every watch sold after October 3. The Panerai digital passport will function as a document containing detailed information about each watch. This passport will create the digital identity of the watch and prove its authenticity at the time of purchase.

To implement this blockchain-powered digital passport, Panerai partnered with Arianee, a Web3 solution provider. The luxury brand will showcase this initiative at the Watches and Wonders fair in Shanghai. The transferable nature of the passport allows the watch to be transferred to subsequent owners by documenting its technical specifications and journey throughout its life.

Panerai’s NFT passport offers owners an additional advantage and encourages registration by extending the international limited warranty of its watches for up to 8 years. With its 163-year heritage, the company predicts that this functionality will open the door to “more value-added services and benefits.” Panerai first integrated Arianee’s technology for a limited edition of the Radiomir Eilean Experience watch in March 2022. This special edition featured a one-of-a-kind NFT artwork and featured evolving content where the digital passport played a role in the artistic and experiential aspects of the service.

At the time, Panerai expressed its intention to expand digital passport functionality to all of its watches. Now with a broader rollout, the focus is on utility and enhanced customer experience, in line with the luxury industry’s current Web3 landscape. Panerai CEO Jean Marc Pontroué made the following statements in his statement on the subject:

Committed to elevating the customer experience, we are constantly adapting and innovating to keep up with the changing times. We firmly believe that digital identities are poised to transform the ownership of valuable assets by enabling our customers to track the lifecycle of their watches, prove their authenticity and benefit from bespoke services specific to each watch.

Watch owners can request their digital passports when purchasing from Panerai boutiques or by scanning the QR code on the warranty card. Having established strong ties with the luxury watch industry, Arianee collaborated with watch manufacturer Breitling on digital identity in early 2020. Company; also works with well-known brands such as L’Oreal, Moncler, Lacoste and Richemont Group.