Panerai Sets Sail For Web3 Adventure With Radiomir Eilean Experience Edition
Brace yourself, Web3 is coming at you, whether you get it or not (yet). Panerai is not the first major watch brand to enter the NFT waters, and it certainly won’t be the last. As the brand’s entry ticket into the Web3 territory, the Italian-Swiss watchmaker has chosen a new product-release concept for the Radiomir Eilean Experience Edition.
The keyword here is “Experience”. Panerai is offering you a multi-dimensional experience, packaged with both physical and digital components, along with one on the wrist — the new Radiomir Eilean. This is the first Panerai Experience Edition watch that is accompanied by a sailing trip on the Mediterranean and an exclusive NFT in a cryptographic wallet. Let us unpack the experience for you.
First, the watch itself
The Radiomir Eilean Experience Edition watch (PAM01244) is a more exclusive version of last year’s Radiomir Eilean. This model will see a production of just 50 pieces. It’s a slightly smaller descendant of 1930s Radiomir with which the brand outfitted Italian Royal Navy divers. The Radiomir Eilean, in particular, takes its design inspiration from William Fife’s classic yacht from 1936, the Eilean. The story behind the historic ketch is nothing short of a legend. You can read about it in our coverage of the namesake watch’s debut release.
Like its predecessor, the new Radiomir Eilean has a 45mm patinated steel case that is water-resistant to 100 meters. This watch, however, also features bronze elements, namely, the bezel, crown, and case-back medallion. These parts are made of repurposed metal salvaged from the boat during its restoration. Sealed under a sapphire crystal is a deep oceanic blue dial, which has a pattern that resembles Eilean’s teak deck. Ticking inside at 21,600vph is the P.6000 caliber. This manually wound movement has 19 jewels and a 72-hour power reserve.
The Eilean experience
Those who purchase the Radiomir Eilean Experience Edition will receive a complimentary journey aboard the historic yacht Eilean along the cerulean Amalfi Coast. Panerai acquired the Eilean in 2006 in order to seal the brand’s very own link to the sea. Panerai also uses the 22-meter vessel as a symbol of its artisanal excellence. When Panerai found the then-70-year-old vessel, it was in a sorry state and required exhaustive expert restoration. Panerai demanded nothing less. After three years and 40,000 hours of meticulous work, the foundering ketch was returned to its former glory and glamour.
The brand is offering owners of the Radiomir Eilean Experience Edition a first-hand opportunity to appreciate the legendary yacht and a taste of the Italian seafaring lifestyle while sailing the Mediterranean. The excursion will take place in June 2022 for this small club of owners to enjoy “the culinary and cultural delights that the region offers”.
The debut NFT
To complete the experience, Panerai is issuing each buyer of the new limited-edition watch a unique digital wallet based on secure Web3 blockchain technology. Each wallet contains NFTs (non-fungible tokens) that carry specific sets of data that are time-stamped and personalized to the buyer.
The NFTs in the wallet will provide definitive proof of ownership to the buyer, and unlock exclusive content directly related to Panerai Experience Edition watches. The content will evolve as the experience continually unfolds, including Panerai’s upcoming “genesis NFTs” to reveal collectible, one-of-a-kind artwork. “Genesis”, in NFT lingo, means the first-ever, the virgin, or the inaugural one. The collectible value of that is self-explanatory.
A vision for the future of Panerai watches
The ownership also allows priority access to all future Web3 initiatives from Panerai. The company is keen to make its first foray into the Web3 world a serious endeavor. Drawing upon its history of providing tool watches to the military, Panerai is not one for gimmicky instruments. This also applies to its NFTs, which the brand will use to enrich customers’ watch experiences in a serious way.
Panerai plans to deepen its engagement as these emerging technologies continue to mature. After exploring the space, the company decided to partner with Arianee, the “go-to” Web3 solutions provider for Richemont and its brands. In time, Panerai will issue each one of its watches with a digital wallet with similar identifications. The company says that the upcoming tokens will protect authenticity and allow customers to unlock new benefits and services.
The Radiomir Eilean Experience Edition is available now via Panerai. It is priced at €39,000 as a full experience, and only 50 people will have the chance to partake. To make it worth your wallet, take note that the Mediterranean sailing trip is set for June. This experience is the first of its kind for Panerai as the brand integrates the revolutionary Web3 technology. A series of additional experiences will roll out this year.
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