NFC Tag – a chip product that is implemented according to NFC Forum Tag definitions (Type 1-5). those tags carry a small amount of data in an NDEF format which is understandable by the reader/writer. usually, these tags contain ‘read-only’ information.

I think you are referring to EMV wearables. EMV wearables use the same chip used on the smartcard (card form factor).

every traditional watch manufacturer now adds NFC Contactless payment. which means using the same smartcard chip (in most cases).

one such here:

https://laks.com/en/