Today, brands are investing massively in the Metaverse to attack its potential and great marketing promises. A trend long anticipated by Maximilian Schiefer, senior executive at Swiss watchmaker Chronoswiss AG. This pioneer abolished the line between virtual and physical by first adopting Web 2.0 at a time when it was just a fad and companies were cautious. Chronoswiss already has a concrete vision for the new playground, the Metaverse. Forbes asked this pioneer about the future of luxury in the digital age.
You were one of the first to adopt social media into your strategy and also anticipated the rise of the Metaverse. Do you think Web 3.0 will go mainstream soon?
Maximilian Schiefer : The Metaverse is not a vision of the future. In fact, it’s been around for quite some time when we refer to projects as “Second Life”. Back in 2003, users were able to embody “virtual characters” in this 3D video game. However, many people still haven’t realized its existence and its obvious potential. Take a look at how much our lives in the digital world have changed with Web 2.0 and how it has changed our relationships. The Metaverse goes one step further and is already changing the way we experience and consume goods. In fact, I believe in timing and being visionary when applying these new concepts. Being a frontrunner gives you credibility on the one hand and the opportunity to learn on the other.
How did you become a pioneer in these subjects?
When I started working with social media, very few people believed in its potential. In the beginning, from 2012 to 2014, we had to explain why Web 2.0 and Influencer Marketing were the future of advertising, when we barely made any money with this approach. If you’re one of the few in the league who believes in this vision, you learn a lot early on. During those formative years, we learned how to build and serve communities, create compelling content, and reshape digital marketing. For the Metaverse, I think we’re in a similar situation right now. Everyone has heard of it, but few have a real vision for the future.
When it comes to luxury, much of the appeal lies in the rarity and quality of the product. How does Chronoswiss ensure continuity between the virtual and the physical world?
This applies in particular to Chronoswiss. A big part of the fascination with an independent Swiss watchmaker is the beauty of craftsmanship. We are very proud of our hand-engraved three-dimensional dials, all made in our workshop in Lucerne. In the Metaverse, while the craftsmanship still exists (our 3D watches are also handmade), it is more of a replica of the real watch. So for the very first luxury units made for Web3, we decided to bridge the gap between the digital and the physical world.
Maximilian Schiefer : “ The Metaverse is not announcing the end of physical luxury products, they will simply have to adapt to a new environment. We have already seen the first steps in the watch world with NFTs. With Chronoswiss we go even further. »
Is this bridge to the real world a concept for the future?
Although digital life and work are becoming more and more dominant in our existence, I firmly believe that connecting both environments is essential. After all, we wake up every morning in the real world, where we like to touch and feel things… At the end of September, in the middle of Fashion Week, we just released our first watch in the Metaverse nicknamed “Sugar Rush”. Decentraland- users can purchase a limited edition of digital-only pieces for their Avatar, paired with an NFT, and an even more exclusive collection paired with genuine watches made in our factory.
To achieve this, we have recreated our Atelier Chronoswiss within the Decentraland platform, as it is the only means of distribution for this particular model. I foresee that people will appreciate being both pioneers and that they will be happy to acquire a beautiful object to touch, to wear.
Do you think that one day we will mainly consume digital luxuries, such as fashion with avatars? What would be the implications for this market if we follow the example of watches?
When I started selling ads on social media, few people could have imagined that the way we create product awareness would irreversibly change in the next five years. Now, if people are in doubt, I advise them to take a look at their children and their perception of “legal luxuries”. For them, a high-end armor, or a sword in an online game has a very high value, it symbolizes a certain status. When we anticipate this paradigm shift, we necessarily know which direction we are going. The boundaries of the real and the digital will become increasingly fluid in the future.
However, this does not mean that physical luxuries will disappear, they simply have to adapt to a new environment. We have already seen the first steps in the watch world with NFTs. With Chronoswiss we now go much further.
Being innovative with your brand still carries a risk. How do you deal with the ‘unknown’ factor?
It is an opportunity for me to work in an independent family business. Specifically, this means that when others are content to talk about risk and are hesitant, we can instead choose to move on and learn. You won’t find treasures in shallow water… But if you feel like you’re getting lost, then you’ve come to the right place to explore new horizons.
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Chronoswiss
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