Hello there! Thank you for taking the time to educate us and our readers on your project. Can you please give us a brief introduction to Watch Skins and Crypto Watches?
Watch Skins is the world’s first marketplace for blockchain authenticated collectible smartwatch faces. We developed Watch Skins when we realized that there were some glaring issues with current digital watch face offerings.
Until Watch Skins, there has been no real exclusivity in the market, and there is a lot of piracy taking place. We incorporated the blockchain to not only guarantee scarcity by issuing provable limited quantities but to prove authenticity as well. Blockchain is the perfect tool to allow collectability in the digital space, and by using blockchain to authenticate licenses, we’ve created a massive new opportunity to bring authentic brands to smartwatches.
Crypto Watches is our entirely virtual, blockchain authenticated fashion brand for smart watches. It’s a first of its kind, cutting-edge combination of fashion and tech. As the first brand that will be available on the Watch Skins marketplace, it also proves the concept to other brands that are interested in the technology.
Thanks for giving us that introduction. You demonstrated a really cool app this year at CES. Can you tell us more about how the app works?
Absolutely. To get started, just download the app, create a profile and log in. It’s very easy to use.
When you log in, you’re taken to the Marketplace. From there, you can explore the various retail offerings in categories like fashion, sports, entertainment and music.
There’s also a configurator, which allows you to customize your own designs and create one of a kind watches.
Every watch face that you acquire is a unique non-fungible token in the Watch Skins ecosystem. These NFTs are stored in your collection, which is a secure digital wallet within the app. It means you are always carrying your entire collection with you, and you can change it up depending on your wardrobe, your mood or even an event you are attending.
Then there is the auction feature. Users can buy, sell and trade watches from their collection with other users on the Watch Skins app anywhere in the world. The interaction between collectors around the world really adds another layer of fun to the app.
What is the most notable thing about your project? It can be something you developed or something you achieved.
Maybe the most notable aspect of this project is the level of utility it offers to everyone involved. It’s often been said that blockchain is a solution in search of a problem. By using blockchain in this case, we’ve solved a unique problem and the solution offers real world utility.
Until now, most brands have had little incentive to get involved with wearables. It was difficult to monetize intellectual property in a meaningful way. There has been plenty of appetite from consumers, but it’s been left largely unsatisfied. In cases where that demand has been met, it’s mostly been with knock off products.
Watch Skins has pulled customers and brands together in a way that makes everyone happy- customers can have an incredible amount of authentic content to choose from, and brands can be compensated and have an entirely new way to stay in front of customers. It’s a very practical application of blockchain.
Thanks you for the explanation. So you guys are trying to get a piece of the digital collection market right? How large is the digital collection market at the moment and will it increase in the future?
That is exactly what we are doing. We’ve seen numbers that suggest the digital collectibles market ranges from 50 billion dollars on the low end to 400 billion dollars on the high end. It’s tough to pin down an exact number, but we know it’s big and it’s growing fast. It’s obvious that the future is digital and that people are quickly adopting these technologies. Combine that with the rapid rise of the smartwatch and wearable market, and we’re really poised for explosive growth.
Since Watch Skins is trying to get a piece of the growing digital collection market, could you please tell us a little more about your Roadmap?
Watch Skins was running in stealth for about a year before we unveiled at CES last month. In that time we were clearly defining the project scope, doing market research, filing patents and trademarks, working on brand development, handling corporate and legal, arranging partnerships, growing the team and the advisory board, and of course building the app.
This quarter is about fundraising, continued growth, licensing and new partnerships.
Awesome, the future looks bright for Watch Skins. Could you please tell us more about your team as well?
We’ve got a very strong team. Everyone involved has a very unique skillset, and has a lot of experience executing. Combining that experience with clear communication and an ownership mindset translates into getting things accomplished. It’s probably the best level of synergy I’ve ever experienced from a team.
It sounds like you have a pretty solid team already. Do you have any advisors as well?
We have been blessed with fantastic advisors. Every person involved in an advisory role has come to the project in a very serendipitous way. It’s amazing to be able to call on people with such a wide array of knowledge and experience. They have also been very gracious in extending introductions to their networks. That’s fostered many new relationships and opened a lot of doors for the company.
That’s nice. What partnerships have you formed so far, and what kind of partnerships are you seeking for the future?
Forming amazing partnerships has been a key part of our strategy since day one. We knew that with a cutting edge idea, that communicating our message to others was our first challenge. Seth Chesire is our creative director, and we’ve been lucky to work with his agency Hello Cheshire over the years. The team at Hello Cheshire is such a talented group, and we’ve been able to tap into this massive creative force to help tell our story.
As a new business, it was clear how important market research and data analytics would be to driving our success. We’re really excited to be working with the NPD group to fill that role. The kind of insight they bring to a company is phenomenal. NPD has mountains of data, and more importantly they can interpret it and strategize based on trends. That’s invaluable.
Another major win for us was partnering with FUELED. They’ve built incredible apps for incredible companies. We’re thrilled to have a signed service agreement with them, and they will be building out the next version of the app.
For licensing, we’re partnered with The Brand Liaison to handle everything in that realm. They’re a fantastic agency with a ton of experience and they’re very hands-on. They’ve written deals for almost every brand we want to work with. With licensing being such a major component of our business model, that track record is paramount. They’ve opened some incredible doors. In the future, we’re excited to partner with major brands, service providers and electronics manufacturers in order to bring Watch Skins to the highest level.
How can we stay up to date with Watch Skins and support your project?
The best way to keep up with Watch Skins would be to check out our website. Go to www.watchskins.com, as well as our Facebook page to get the latest news.
Thanks for taking the time to tell us more about your project, it has been a pleasure. We wish you all the best in the future.