Dive Brief:

• Timex has created a collection of 500 timepieces and corresponding digital twin NFTs in collaboration with the Bored Ape Yacht Club community, according to a press release.
• Each timepiece — exclusively available to members of the Bored Ape and Mutant Ape community — is based on the watchmaker's Timex Waterbury Classic design, showcases an Ape or Mutant character on the face and has customizable attributes, including a case, strap and etchings. 
• Timex is billing the collaboration, which it produced alongside several longtime Bored Ape holders and 3D metaverse, including a Fortnite activation.

Dive Insight:

Timex's collaboration with members of the Bored Ape Yacht Club demonstrates how a maker of traditional timepieces can engage with younger consumers and digital communities. By creating custom, limited edition watches that have digital twins, the brand is tying the NFTs to something that has real-world value, unlike other branded NFT activations that only exist in the digital realm.

"Timex is entering Web3 by keeping creativity and community at the forefront," said Shari Fabiani, senior vice president of global marketing and creative services for Timex Group in a press release.

Key to the collection is a collaboration with members of Bored Ape Yacht Club, one of the best-known NFT collections, which have been purchased and popularized by a range of celebrities including Justin Bieber, Jimmy Fallon, Snoop Dogg and Gwyneth Paltrow. Timex consulted with longtime Bored Ape holders Josh Ong, CryptoVonDoom, The Miami Ape, LOGIK, BaronVonHustle and Zeneca on the project, which was created with Daz 3D, a company that specializes in Web3 strategy, marketing and full-stack development.

The NFT-focused collection comes at an inflection point for the blockchain-based technology that seemed to crater by the end of 2022 after the market for NFTs collapsed. However, brands including Macy's and Starbucks have continued to experiment in the space, which some believe could see a resurgence as better use cases proliferate.

Timex made access to the collection available to the BAYC community at a launch party during Art Basel in Miami in December 2022 and later opened the offering to NFT holders for a price of 2 ETH. Holders of Timepiece Forge Pass NFTs were able to design the watches online, which are set to arrive in Q2 2023. The activation demonstrates how NFTs and other blockchain technologies can be used by brands to ensure authenticity.

While billed as its first Web3 activation, Timex is no stranger to emerging technologies, having launched a metaverse experience within Fortnite, “Race Against TimeX," in November.