Swiss luxury watchmaker Franck Muller has launched limited-edition timepiece dubbed “Encrypto” that it's calling "the world's first functional bitcoin watch."
Aesthetically, the dial of the watch – launched in partnership with cryptocurrency trading platform Regal Assets – sports bitcoin’s logo and a QR code of bitcoin's genesis block address.
The face also includes a laser-etched QR code for a public wallet address that can be used to deposit bitcoin and check its balance. An included sealed USB stick stores the private key, Regal Assets announced Wednesday.
The "deep cold storage" wallet uses "offline generated, non-deterministic TRNGs (True Random Numbers Generated) that cannot be hacked,” according to the announcement.
The Encrypto is currently available online and at Franck Muller’s Dubai Mall store, with accepted payment options being credit card and bank transfer, as well as bitcoin.
A maximum of 500 each of men’s and women’s versions will be sold, with the cost being anywhere between $10,000-$60,000 apiece, according to information from the maker’s website. Some models also include precious metals and diamonds in the dial and frame.
Franck Muller is also exploring models featuring ether (ETH) and other “top five coins”, including XRP in the future.
Earlier this year, luxury Swiss watchmaker A. Favre & Fils also announced that it is developing a handcrafted mechanical timepiece with a built-in crypto-wallet. The watch will cost in the range of $102,000–$153,000, depending upon the model and its features and materials.
Encrypto watch images via Regal Assets
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