Altr and Monaco Legend Group form collectible timepieces digital twin partnership
- Wednesday, October 18th, 2023
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Altr, which specialises in blockchain technology and digital authentication, has entered into a partnership with Monaco Legend Group (MLG), a watch auction house for rare and collectible timepieces. The partnership will introduce an advanced digitization platform that the companies say will empower collectors in numerous ways.
The standout feature of the partnership is the concept of ‘digital twins.’ Every item digitized through Altr becomes a distinct digital counterpart of the physical object, enabling collectors to enjoy their collections both online and offline. It represents a bridge between the physical and digital realms of collectibles. Altr’s platform also includes a tracking and valuation component. Every three months, Altr’s expert committee assesses and updates the valuation of the digitized items, providing collectors with real-time insights into their item’s worth.
These digital certificates unlock other possibilities. Collectors can explore opportunities to use their certified items as collateral for lending or engage in secure trading on the market. The certificates are highly customizable, allowing collectors to decide whether to keep them private or share them with the world through their user interface. All watches featured in the upcoming Monaco Legend Group Exclusive Timepieces sale have already received certification and valuation from the auction house experts.
“Our partnership with Altr is a testament to the boundless possibilities that lie ahead as we embrace digital innovation to enhance the collector’s experience,” said Monaco Legend Group Co-chairman, Davide Parmegiani. “This collaboration will not only strengthen our position as a leading watch auction house but also enable us to reach and engage with new generations of watch collectors.”
The Exclusive Timepieces sale is scheduled for 21 and 22 October both online and in person in at Hotel Meridien Beach Plaza, Monaco. There’s more information here.