Just to be sure and have clarification of that at first, is the NFC of the Smartwatch 3 just an embedded tag or is it a theoretically fully functioning NFC-chip?
There is a fully functional chip in the SmartWatch 3. It is today acting according to the spec linked by CM787 (here's a new one as the old one seems dead).
When Android Wear officially expands on the support for NFC, the SmartWatch 3 will be able to follow.