Watch.fun, a blockchain-based luxury watch raffle platform, has closed an $8.6 million funding round led by Crypto.com Capital and Solana Ventures. Operating on the Solana blockchain, the platform runs weekly lotteries for high-end timepieces such as Rolex Daytona and Patek Philippe Nautilus, with entry tickets starting as low as $19.
Use of Funds and Expansion Plans
The fresh capital will be allocated to product development, watch catalog expansion, compliance, and global business growth. Watch.fun also plans to introduce tiered memberships and referral rewards to boost user engagement and retention. Compliance efforts will be scaled to ensure smooth operations across multiple jurisdictions.
Provably Fair and Trusted Supply Chain
Unlike traditional raffles, watch.fun leverages Solana’s transparency to make each lottery result verifiable on-chain, ensuring “provably fair” outcomes. All watches are sourced and authenticated by partner Wristcheck, guaranteeing authenticity. This blockchain-integrated model aims to rebuild trust in the luxury raffle industry.
Market Context and Competition
Raffle and auction projects on the blockchain have gained traction, especially within the Solana ecosystem. Previously, Solana-based prediction markets and auction platforms have emerged. The funding from Crypto.com Capital also brings resources in crypto payments, compliance, and distribution.
With the new funds, watch.fun plans to expand its watch brand coverage and explore partnerships with more luxury brands and certification agencies. The platform will also target a global user base, particularly high-net-worth individuals interested in luxury investments and collectibles.