PVD stands for Physical Vapor Deposition.
The coating is affixed to the case/bracelet in a vacume chamber.
The coating (or layers of coating) is a carbon deposition.
It was traditionally applied to military or "tactical" watches as an anti-glare mechanism so that the metal would not shine in the sun.
Like camo for your watch.
Now we all get to try GI Joe's gear for ourselves.
Of course there are some in real combat or tactical situations (god bless them) that really have use for this.
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