Despite the fall of the NFT market, the enthusiasts are still there: TAG Heuer

The general manager of TAG Heuer has returned to theNFT initiative of the watchmaking house. According to Frédéric Arnaultthe market got rid of the speculators but the enthusiasts are still there.

In 2022, the luxury brand TAG Heuer added a new feature to its smartwatch allowing to connect a wallet and to display an NFT on the watch face.

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During an interview granted this Tuesday to JournalduLuxe, Frédéric Arnaultthe head of TAG Heuer, said that the initiative had “received a very good reception”.

There were a lot of questions about the usefulness and use of NFTs. Associated with watchmaking, there is a real collection effect,” he said.

According to the son of billionaire Bernard Arnault, the watch is a “very practical” object for displaying collections of NFT. “Besides, true watch collectors like to wear really special and unique models. That’s where a luxury connected watch resonated very well with the NFT world. The watch was very well received and it continues to appeal to enthusiasts “, he added.

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Frédéric Arnault owns a token of the famous Bored Ape Yacht Club collection. Last summer, on Twitter, he posted a photo of his watch showing his NFT on the dial.

Last year, TAG Heuer has also launched a pilot project to allow its American customers to pay in crypto-currencies on its website.

It’s true that the NFT market has gone down a little bit in the last 6 months, but there are really less speculators. The enthusiasts are still there, and they are the ones we were targeting. They are very committed to our products”, concluded the manager.

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