Case Study: How can NFTs be used in a meaningful and high-impact way?
An example: The traditional watch manufacturer Hanhart based in the Black Forest is known for its high-precision watches. Even today, pilots all over the world use the chronometers, especially in aerobatic squadrons.
Hanhart was the first watch manufacturer to design a completely new watch, securitise it as a hybrid NFT and then put it up for auction - incidentally, the first NFT auction in a German auction house.
The aim was to open up the Hanhart brand to new customer groups, to introduce a completely new, very high-priced line and, honestly, to attract attention. These goals were achieved. The coverage of the first hybrid NFT watch was extensive worldwide, Hanhart reached entirely new target groups, and the brand was repositioned. And best of all, the auction was also a commercial success. In addition to the construction drawings and the development steps of the design, the hybrid NFT also includes the right to have the watch manufactured as a unique piece in the Hanhart manufactory. It was auctioned off for around 45,000 euros.
The option to build the watch was used, and as of the end of 2022, the watch is in production. Hanhart is still silent about the price for it, because the buyer was allowed to choose the materials himself. Marketing and PR? Yes, and at no cost, but at a profit. The results of the auction can be found here, the watch or the data certified in the NFT can be viewed here.
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