Casio will release virtual G-SHOCK NFT on Polygon

Author: James Hunt, The Block; Compiler: Songxue, Golden Finance

• Casio is partnering with Polygon Labs to launch virtual G-SHOCK watches on the Polygon blockchain.
• The project will be launched in the form of an NFT-based G-SHOCK Creator Pass, inviting users to design and vote on its appearance.

Japanese electronics giant Casio is collaborating with Ethereum scaling developer Polygon Labs to launch a virtual G-SHOCK watch based on the Polygon protocol, starting with a collection of NFT-based community access passes.

According to a statement, starting on September 23, users can claim 15,000 NFT-based G-SHOCK Creator Passes, allowing them to access the project's dedicated Discord channel. Casio customers who have registered a CASIO ID on the company's membership website can participate in the pre-distribution phase from September 23 to 26. This will be followed by a public distribution phase from September 26th to 29th.

Two weeks ago, Casio filed a trademark application with the USPTO on August 22, covering virtual clothing and watches, NFT-backed media, and a virtual goods store. The company says it has shipped more than 100 million of the watches since 1983.

Community co-creation

In the first community event, Casio will invite users to submit design ideas for the G-SHOCK creator token and vote on its appearance, and the winning design will become a variant of the NFT token.

Casio said it chose Polygon to launch its web3 partnership because it enables "lightning-fast transactions, making the process of minting and managing NFTs seamless, convenient, and carbon-neutral."

"At the core of our virtual G-SHOCK is accessibility, innovation and inclusion, which means the user experience must be smooth and simple. That's why Polygon was the most natural and logical choice for us." Senior General Manager of Casio Watches Takahashi Oh said. "Our goal is for companies and users to work together to grow the G-SHOCK brand, which celebrates its 40th anniversary this year."

Casio says the range will be available to residents of the United States, United Kingdom, Germany, Italy, Netherlands, Spain, Portugal, Austria, Japan, India, Singapore, Indonesia, Malaysia, Thailand, Philippines and Vietnam.

Casio joins the list of launching NFTs on Polygon

Casio joins other major brands such as DraftKings, Adidas and Starbucks in their move to launch an Ethereum scaling solution. Sports betting company DraftKings launched an NFT marketplace on Polygon in 2021, with the first featuring NFL star Tom Brady. Later that same year, it became a full validator for the network.

In 2022, Adidas and Prada announced the launch of an NFT project on Polygon featuring user-generated content. Subsequently, in April this year, Starbucks also launched a new NFT series on the Internet.

Jordi Baylina, co-founder of Polygon Labs, said: “It is encouraging that more and more global brands are embracing decentralization by expanding their influence in the web3 world.”

Weekly trading volume for Polygon-based NFTs fell to the lowest level in a month last week amid a general decline in activity in the NFT industry.

(NFT transaction volume by chain)