Luxury watches are the epitome of style, with Rolex, Omega, Patek Philippe, Audemars Piguet, among others ranking among the best in the class. These watch brands have amassed a huge fan following and command prices of thousands of dollars. But even in our wildest dreams, rarely would anyone have dreamt that one day a virtual watch brand would fetch the same prices that the likes of Rolex and Omega fetch today?
Well, it has become a reality today with Jesus Calderon's Generative Watches becoming the fan-favorite virtual luxury brand. The most impressive thing about these NFT watches is that they cost as much as many of the leading luxury watch brands in the market today.
A Chicago resident, Jesus Calderon is an NFT enthusiast and a motion graphic designer by profession. It's only recently that the 29-year old Calderon decided to make a name for himself in the luxury NFT space with Generative Watches, his virtual watch brand.
While scrolling through his Twitter feed at the beginning of 2021, he came across posts from the who's who of the crypto world, where they were posing with the fast sports cars and watches. That's when he found a niche that he could explore: 3D Luxury Watch collectibles.
Calderon believed that his idea could strike a chord with his target audience as they would love a 3D equivalent of their real-life luxury watches. And, his plan seems to be working, as, so far, he has sold 68 watches at an average watch price of $700.
He aims to make Generative Watches the go-to luxury virtual watch brand. And, with all the talks around metaverse being a $1 trillion market, his vision seems to be on the right track. After all, if everyone is going to be in the metaverse, they would maintain the style quotient in this virtual world, too, and what's the better way to do than wearing a luxury watch. Calderon says that a virtual luxury watch in metaverse would hold the same value that the real thing has in our physical world.
Calderon's virtual watch brand "Generative Watches" derives its name from how these watches are created. He has created an algorithm that automatically generates these watches with varying parameters, which Calderon plays around with regularly.
To create the watches, Calderon spent over a month working on a Google sheet, trying out a variety of features, including the material, color, graphics, among other things.
Calderon calls his watches "Hand-built" even though it's the algorithm that generates these watches. His reason is that the watches he creates are not all algorithm-made as he, too, inputs some crucial design elements. Also, he makes sure that the way everything comes together to create the watches is done right.
When told that his creations are actually the spoof of the real world luxury watches, the virtual watchmaker did not deny it. He fully agreed that watches he sells are actually spoofed versions of the real thing. In fact, the watches he chooses to create are always the ones that are among the most recognizable or most popular. It includes Speedmaster, Day-Date, Submariner, or Daytona.
The reason why Calderon chooses only the most popular watches to create 3D collectibles is that these watches would help him get the most eyeballs. Another reason is that the brand value & rarity of the popular luxury watches ensures the tradability of virtual luxury watches.
If you are wondering about the prices, it varies by the brand you opt for. Generative Watches' Daytona was priced at 0.2 ETH, whereas Calderon's first-ever drop was priced at 0.1 ETH. It means that the 3D collectible version of Daytona watches was double the initial prices that Calderon charged for his first drop. During Calderon's first drop, ETH's price was hovering around $3000. Thus, during the first drop, each watch was sold for approximately $300.
During the sale of Calderon's 3D collectible version of Daytona watches, ETH prices were hovering around $3500, which means these watches from Generative Watches were sold for $700 each. Considering the rarity & value of Daytona watches, Calderon had knowingly priced them higher.
Currently, the Generative Watches are only 3D animations, but that will change once we will be in the metaverse. And, the pace at which the innovation is happening in the metaverse space, that day is nearer than what many believe. So, once in the metaverse, these watches would be fully functional and will work just like the physical watches do. After all, these virtual watches, too, operate at eight beats per second and show stuttering just like the physical ones.
Considering that Calderon is a virtual watchmaker, it would be interesting to know which luxury watches he owns, and what is his favorite watch. When it comes to Calderon's favorite watch, he says that he doesn't own any expensive ones. Instead, he wears the Bulova mechanical chronograph because of its sentimental value in his life, as it is the same watch that Calderon was wearing while proposing to his wife.