A ten generation Swiss family watchmaker plans to release a luxury timepiece with a cold storage crypto wallet in Q2 2019.
A. Favre & fils, a Swiss watchmaking company dating back to 1718, has partnered with: Swiss Crypto Advisors, Ubisoft and the Swiss Better Gold Association to develop their prototype. The handcrafted mechanical timepiece will contain a cold storage wallet and “state of the art proprietary security” according to the company’s website. While not yet disclosed, it is reported that features will include solutions if the watch is lost, stolen or destroyed.
In an interview with SWI, a Swiss news outlet, CEO Laurent Favre stated “You have to keep adding relevant features that advance the design. It’s a bit like figuring out the future of steam engine in the age of electric trains.” The watch, part of a campaign entitled “The Future of Time” plans to bring together “the worlds of fine horology, mechatronics and cryptology in a unique next-generation timepiece.”
The watch is priced at CHF 100,000 to CHF $150,000 ($102,000 – $153, 000 USD) depending on materials and features.