Costa Rica-based watch.fun, an on-chain platform that enables users to win luxury watches through provably fair live draws, announced on March 25, 2026, that it closed an $8.6 million financing round. Crypto.com Capital and Solana Ventures led the round, with participation from Spartan Capital, Big Brain Holdings, Griffin Gaming Partners, Animoca Brands, Morningstar Ventures, and OrangeDAO.
watch.fun operates as a luxury watch drop platform. Participants enter weekly draws for timepieces such as the Rolex Daytona, Audemars Piguet Royal Oak, and Patek Philippe Nautilus, starting at $19 per entry.
Funding Overview
watch.fun secured $8.6 million in its latest financing round, announced on March 25, 2026. The round was led by Crypto.com Capital, with Solana Ventures participating as co-lead. Additional investors included Spartan Capital, Big Brain Holdings, Griffin Gaming Partners, Animoca Brands, Morningstar Ventures, and OrangeDAO.
Proceeds will support product development, expansion of the curated watch catalog, strategic partnerships, and team growth. James Au, co-founder and CEO of watch.fun, stated that the platform productizes raffle behaviors in collector communities to offer a new acquisition method for luxury watches.
The platform runs on Solana blockchain, providing on-chain settlement while keeping infrastructure user-invisible. Over the next 12 to 18 months, funds will go toward engineering improvements, compliance, business development, marketing, and hiring. Near-term plans include weekly drops and referral incentives. Longer-term initiatives involve higher drop frequency, VIP memberships, and new engagement formats. In parallel, developments such as ParaFi Capital Secures $125M highlight continued investor interest in digital asset and Web3 infrastructure, reinforcing the broader momentum behind platforms like watch.fun.
About the Company
watch.fun functions as a luxury watch drop platform built on Solana. The platform hosts weekly draws where users enter to win watches. Entry starts at $19. Each draw uses provably fair mechanics, independently verifiable on-chain.
Wristcheck serves as watch.fun’s sourcing and authentication partner. Wristcheck, a luxury watch dealer with offices in Hong Kong, Macau, and New York, authenticates watches using Swiss-trained watchmakers and issues condition grading and Timepiece Certificates.
Wristcheck ships authenticated watches directly to winners. The platform targets challenges in the luxury watch market, including illiquidity, opacity, and high entry barriers. Elton Yau, Chief of Staff of Wristcheck, confirmed the partnership handles full authentication for each drop. Kelvin Koh, Co-founder, Partner, and CIO of Spartan Group, noted that watch.fun’s model provides transparency and access while maintaining prestige.
Investors
The $8.6 million round featured these explicit investments:
- Crypto.com Capital
- Solana Ventures
- Spartan Capital
- Big Brain Holdings
- Griffin Gaming Partners
- Animoca Brands
- Morningstar Ventures
- OrangeDAO
Spartan Capital connects to Spartan Group via Kelvin Koh’s role.
Market Context
watch.fun addresses luxury watch market issues: dealers hold inventory for months via consignment; collectors encounter mark-ups and counterfeits.
- The platform uses weekly drops to enable access starting at low entry fees.
- Draws eliminate centralized algorithms through on-chain verification.
- Authenticity relies on Wristcheck’s processes.
- Future features include a curator program, ticket-odds transparency, and referral incentives.
- Compliance efforts will secure licenses for global prize fulfillment.
