NFT Watches May Offer “Interactivity” in the Metaverse and Blockchain: 3D Jesus Owners

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Jesus Calderon, owner of 3D Jesus, joins Yahoo Finance Live to discuss NFT Rolex and digital watches, the metaverse and creating value on the blockchain.

video transcript


EMILY MCCORMICK: Welcome back to Yahoo Finance Live. The markets ended the day and week about 40 minutes ago. And let’s see where the dust settled. The Dow Jones Industrial Average is down about 180 points. The S&P 500 lost about 0.8%. And as you can see here, or as you could see just over there with the sector action, the laggards during today’s session were the financials, information technology and consumer discretionary sectors.

On the other hand, we had Energy, Utilities and Real Estate as outperformers. And of course in energy we had crude oil prices, WTI crude oil prices, this week went above $100 a barrel.

Now I also want to move on to what we’ve seen in the crypto market as Bitcoin prices are coming under renewed pressure this afternoon, tracking the declines we’ve also seen in major tech stocks. Those prices are down about 6% this afternoon and are trading below that 40,000 level. And Ethereum, the second largest cryptocurrency by market cap, lost about 6.9%.

Finally, do you want to look at the CBOE Volatility Index or VIX, which is really indicative of this increased volatility that we are seeing in US stock markets? That’s still above the 30 level, now closer to 32 as we speak, and down about 5% during today’s session.

BRAD SMITH: Well, Em, you just mentioned crypto. People pay as much for NFT watches as they do for true luxury watches. Let’s not delay this. We are now joined by Jesus Calderon, the owner of 3D Jesus.

OK, first there was Rolex, now there’s Rodex. We’ll come back to that. But first about the price, we need to talk about that. How much do the NFT watches cost?

JESUS ​​CALDERON: As far as selling prices go, I tend to agree with Ethereum’s pricing. As an example, my last drop was at 0.175E, which I believe was around $700 each at the time. But they’ve gone as high as $20,000. And that particular watch was actually passed on to the person who sold it, which is amazing.

BRAD SMITH: Yes, what a gift. So why are intangible watches being sold at these prices right now? I mean I can’t wear it. I don’t know – and you can correct me if I’m wrong – if there will be a copy of what you get in the NFT version of this that can actually be made – sorry, it’s slower here – in one physical version.

JESUS ​​CALDERON: To the right. So it depends on how the blockchain works. And I’m probably not the best person to explain this technology. But essentially, if anyone were to replicate what I do, you can always go back to the creator that I am and understand that I was the one who at least started this concept of very detailed, very high-quality watches as NFTs.

In terms of creating real-life counterparts, I’ve spoken to people about this. And we might see that in the future if you buy one of these beautiful watches you might be able to get a real one later.

BRAD SMITH: What is the anatomy or design of an NFT watch that will become a bestseller for you?

JESUS ​​CALDERON: Honestly, I love every single one I’ve made. But when it comes to people, everyone has their individual tastes. I tried to get as much variety as possible to appeal to almost everyone. There are a variety of tattoos, skin tones, even different…

There’s a monkey arm, there’s an alien arm, and all these different colors, as you can see on the screen here. And really, the attention to detail is what I believe not only drives an NFT collector, but the real life counterpart as well.

A real watch collector will always have a very good eye for detail. And I think that’s the core of what makes these great.

BRAD SMITH: OK. And so we mentioned that above. There’s Rolex, the original, or Rolly if you call it that, or you have the Rodex. I don’t know if they’re going to call one Rody or Roddy or something. But how do NFT watches prevent intellectual property infringement?

JESUS ​​CALDERON: Yeah, so what’s very clear here is that this is purely digital. There is no affiliation with any of the brands that you might find similarities with. I have been very tactful with this type of approach because I wanted this to be long-term. And indeed, with the origin of generative clocks about a year ago, there was a previous version that pushed the boundary a little closer.

So I decided to completely change the branding and be very careful with it – these are all digital as of now. Anything that becomes real life would be in collaboration with an authorized dealer or even a completely unique design, shall we say.

BRAD SMITH: Now some resale markets have started to look more into NFTs and even hang some physical products directly on a vault as we have seen in the past and recently with StockX. In terms of clocks and what we may see there in the future and how that actually makes its way into an NFT landscape, whether it’s a physical one that has an NFT peg or it’s just an image that itself is an NFT is. How do these accumulate in the resale market? Is it just how much people are willing to pay, how much I think another buyer is willing to pay for it at the end of the day? What increases value over time?

JESUS ​​CALDERON: Yes, so I would say there are a number of different things. I personally don’t like to focus on the monetary value of the pieces I make. I think that’s just a thing that the market can handle on its own. I don’t really have any particular goals in making every watch worth something.

I just want to continue producing the best and be at the forefront of what others are doing in the landscape. When you see someone else’s NFT watches, there’s no easy way to put it. But qualitatively I am way ahead. As far as the market is going to be worth these watches, it’s up to them.

But that aside, with all the talk of the Metaverse and what’s next for blockchain and Web3, I’m in the process of actually making these work and not just videos of a digital clock. So what I mean by functional is that you have a digital watch that actually tells you the time. You could interact with it, similar to a video game. And I think that alone will add tremendous value to the owners of these pieces.

BRAD SMITH: Certainly. OK, so the existing pieces that are already out there would then just layer this added element on top?

JESUS ​​CALDERON: Yes, exactly. The current owners could only get the new version which is actually functional. Maybe they can outfit it with their other characters, like the Bored Apes, maybe they can outfit one of my watches if they own one, as well as maybe the punks. There is a punk version of one of these watches.

There’s a lot of interactivity that can happen. And I’m just scratching the surface.

BRAD SMITH: It’s really interesting because it’s not just about developing your own watch. It also develops it for a different landscape or reality in the metaverse. And how long, or rather how far along, are developers in grappling with the feasibility of some of their existing NFTs in the Metaverse?

JESUS ​​CALDERON: To the right. So I think that’s a bit difficult to predict. But if I had to give some sort of timeline, I have a feeling we might be in the late 90’s, early 2000’s of the internet. So if you look at how long it took for the internet to really take off and apps to pop up all over the world and all these wonderful services that we are enjoying now, I think where we are with blockchain, crypto and NFTs is full stop .

It’s that tipping point of maybe, it could be five years, it could be 10 years. But it’s coming. And there’s no holding back, that’s for sure.

EMILY MCCORMICK: Jesus Calderon, the owner of the 3D Jesus, comes here today. Appreciate the time and the conversation, Jesus.

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