WISe.ART AG, a Subsidiary of WISeKey, Receives Strategic Funding from The Hashgraph Association to Accelerate Trusted NFT Adoption via the WISe.ART Platform
- WISe.ART AG receives strategic funding from THA to accelerate Trusted NFT adoption
- WISe.ART will tokenize its shares using the Hedera network, increasing liquidity and global investor participation
- Tokenization of shares simplifies buying, selling, and trading by removing intermediaries and reducing paperwork
- None.
WISe.ART AG, a Subsidiary of WISeKey, Receives Strategic Funding from The Hashgraph Association to Accelerate Trusted NFT Adoption via the WISe.ART Platform
This strategic funding in WISe.ART, includes the adoption by WISe.ART of the Hedera network, a high-performance public ledger for the decentralized economy, to tokenize WISe.ART AG shares in the form of ledger-based securities, a process known as "tokenization"
ZUG, SWITZERLAND – August 7, 2023 - WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, AI, Blockchain, and IoT operating as a holding company, announced today that it has received strategic funding from The Hashgraph Association (THA). This funding will be used to accelerate the broad adoption of the Hedera network and advance the integration of Trusted NFTs through the WISe.ART platform.
Carlos Moreira, Founder and CEO of WISeKey, stated: “We are thrilled about this strategic funding made by THA. The funding will enable us to advance the development of our WISe.ART platform V 3.0 and commercialize the extension of our Trusted NFT solution. We look forward to working with THA and Hedera on its plan to issue tokenized shares via ledger-based securities, a process commonly known as 'tokenization.”
WISe.ART is a fully-fledged marketplace that aims to connect all actors of the arts and technology industries. The platform offers a host of capabilities, including options for curators and multipliers, white-labeling, and unique NFT designs. WISe.ART ensures an authenticated and signed version of each digital asset, creating an irreversible link to the physical object. It provides proof of ownership, provenance, and contracts outlining future use and monetization streams.
Built on Hedera, WISe.ART provides minting and trading of NFTs into WISeKey’s own ecosystem, enabling participants to remain anonymous, while ensuring KYC processes to maintain a clean marketplace. WISeID, a trusted identity service, facilitates access to web and mobile applications with strong authentication techniques.
Hedera, a cutting-edge, sustainable public ledger for the decentralized economy, uses a leaderless, asynchronous Byzantine Fault Tolerance (aBFT) Hashgraph consensus algorithm. Hedera's performance optimized Ethereum Virtual Machine (EVM) smart contracts, along with its user-friendly native tokenization and consensus service APIs, empower developers to create real-time web3 applications and ecosystems.
Kamal Youssefi, President of The Hashgraph Association, commented: “We're excited to collaborate with WISeKey, which shares our vision of bringing DLT technology into the mainstream. The creation of NFTs over the WISe.ART platform, secured through its high-grade security technologies, enables the authentication of physical objects and digital assets in a safe and compliant end-to-end process. This exemplifies the impactful applications that can be built on the Hedera network.”
This strategic funding from THA not only strengthens the position of both organizations in the digital identity and NFT market, but also serves as a testament to the potential and versatility of blockchain technology in powering the future of the internet.
This funding of WISe.ART also includes the adoption of the Hedera network, a high-performance public ledger for the decentralized economy, to tokenize WISe.ART AG shares in the form of ledger-based securities, a process known as "tokenization."
These tokens can be transferred digitally, which implies that the underlying assets - in this case, the equity shares of WISe.ART - can also be transferred. The tokenization of shares simplifies the process of buying, selling, and trading shares by removing intermediaries and reducing the need for paperwork. Moreover, it increases accessibility by allowing fractional ownership, where a single tokenized share can be split among multiple owners.
This new development offers immense opportunities for all financial parties involved. For investors, it enhances liquidity, as tokens can be easily traded on secondary markets. For issuers like WISe.ART, it can lead to broader, more global investor participation, potentially increasing the capital raised. Intermediaries such as platforms benefit by facilitating and benefiting from increased trading activity.
The WISe.ART integration of the Hedera network to tokenize shares exemplifies how blockchain technology is disrupting traditional finance. It underscores the potential of blockchain in creating more efficient, inclusive, and transparent financial systems. This agreement is expected to further establish WISe.ART and Hedera as innovators in the blockchain and digital asset space.
About WISe.ART:
WISe.ART is working on cross-blockchain support, enabling a truly open data economy with the support of Ethereum, Polygon and Hedera and gradually add new chains so to ensure interoperability and scalability as part of WISeKey’s overall strategy to act as a leading platform of the Web3.0 revolution. It provides both a secure marketplace and platform where NFT buyers and sellers can easily connect their crypto wallets to instantly purchase or list their NFTs for sale. WISeKey has added the support of the Polygon blockchain, drastically reducing and even eliminating gas fees for creators, buyers and sellers on the WISe.ART marketplace. WISe.ART is working on cross-blockchain support, enabling a truly open data economy with the support of Ethereum, Polygon and Hedera and gradually adding new chains so to ensure interoperability and scalability as part of WISeKey’s overall strategy to act as a leading platform of the Web3.0 revolution. The NFT design of the WISe.Art platform ensures that besides an authenticated and signed version of the actual digital asset, an irreversible link to a physical object is set up, in addition to proof of ownership, provenance and a set of contracts describing future use and monetization streams, if relevant.
About WISeKey:
WISeKey International Holding Ltd ("WISeKey", SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, and (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions.
Each subsidiary contributes to WISeKey's mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company's semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey's strategic direction and its subsidiary companies, please visit www.wisekey.com.
About The Hashgraph Association:
The Hashgraph Association supports training and education programs across multiple industry verticals. In the forefront is the digital enablement and empowerment of the public through broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications (dApps), which includes innovation, accreditation, and certification programs. As a non-profit organization headquartered in Switzerland, The Hashgraph Association promotes and provides funding for innovation, research and development for the benefit of economic inclusion and with a positive environmental, social, and governance (ESG) impact. For information about The Hashgraph Association, visit www.hashgraph-association.com.
Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com | Hashgraph Association Immanuel Van Poppel immanuel.vanpoppel@hashgraph-association.com |
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties, and other factors, which could cause the actual results, financial condition, performance, or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
FAQ
What is WISe.ART?
What is the purpose of the strategic funding?
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