A Swiss luxury watch manufacturer, Hublot, is set to debut a limited edition of a watch that is based on blockchain technology in celebration of Bitcoin’s 10th anniversary. This edition is called the Bing Band model and it is going to fall in a series of new watches that have been released by Hublot in recent times. Those interested can participate in the pre-sale of these time pieces on the official Hublot site. The post by the company is as follows:
“Our Big Bang watch was developed to celebrate the 10th anniversary of Bitcoin and the underlying blockchain technology. We are also commemorating the fact that only 21 million Bitcoins will ever exist at a given time”.
How Will This Affect The Price Of Bitcoin?
The announcement was particularly exciting to the cryptocurrency community because the these watches are to be paid for in Bitcoin. This is certainly going to cause a positive reaction in the market that will last for a while. Each piece of this watch is worth $25,000 and the amount is to be paid completely in Bitcoins.
The company produced just 210 pieces of the limited edition watch. It’s possible that this is meant to symbolize the fact that Bitcoin has a market capitalization of 21 million. The announcement continued:
“We are paying homage to blockchain technology and the Big Bang series. The luxary watch features our Big Bang signature and cryptocurrency inspired aesthetics. We chose to produce only 210 pieces for a reason”.
From the company’s official statement, the product represents a fusion between top-notch FinTech and cutting-edge Swiss watchmaking.
Hublot Collaborates With Octagon Strategy Limited
Hublot didn’t bring this vision to reality on its own. The company was able to create this watch by teaming up with a leading asset broker firm that is based in Asia – Octagon. While the company is going to show the world the limited edition now, the watches will be officially launched on the 6th of November. Those who have order prior to this time will be able to claim them from the 3rd of January 2019.
To ensure a smooth process, all customers will be required to go through KYC while placing the orders. They will have to submit information like addresses, phone numbers, names, etc. They may also be required to upload an identification document for verification of the information provided.