WISeKey partners with Ocean Protocol to launch TrustedNFT.io, a decentralized marketplace for objects of value designed to empower artists, creators, and collectors with a unique solution for the authentication of physical artworks
WISeKey is partnering with Ocean Protocol to launch TrustedNFT.io, a decentralized marketplace for verifying physical artworks like paintings and sculptures. Utilizing NFTs to ensure authenticity, the marketplace combines WISeKey's specialized chips and blockchain identity technology with Ocean's data marketplace capabilities. This collaboration seeks to address concerns about art provenance and theft through advanced authentication measures, making high-value art transactions more secure.
- Launch of TrustedNFT.io enhances WISeKey's position in the NFT market.
- Partnership with Ocean Protocol enhances capabilities in art authentication.
- Integration of advanced authentication technologies reduces theft risk and enhances provenance verification.
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WISeKey partners with Ocean Protocol to launch TrustedNFT.io, a decentralized marketplace for objects of value designed to empower artists, creators, and collectors with a unique solution for the authentication of physical artworks
Geneva, May 19th, 2021 – WISeKey International Holding Ltd (NASDAQ: WKEY; SIX: WIHN) (WISeKey), a leading cyber security, IoT, and AI platform company, is collaborating with Ocean Protocol (Ocean) to launch TrustedNFT.io, a decentralized marketplace for physical paintings, sculptures, luxury watches, and other objects of value. The trusted NFT marketplace will include non-fungible tokens (NFTs) to represent the physical work, combined with fungible tokens for more fluid price discovery and for staking on physical works.
By deploying Ocean’s data marketplace technology to the domain of physical art, WISeKey’s NFT marketplace will combine the strengths of both parties. WISeKey has developed specialized chips to link physical items with NFTs, and world-class blockchain identity technology. Ocean has developed powerful decentralized marketplace technology, with a track record in the domain of data assets.
“Like paintings or sculptures, NFTs need to be properly maintained. After all, an NFT is a record of provenance, not the artwork itself, so it’s essential that the records are up to date and always available. TrustedNFT.IO deploys a number of mechanisms to provide this – for example, we use our WISeKey Swiss Mountain Vault as a backup, connected to a multitude of hosts to ensure that NFTs remain online,” said Carlos Creus Moreira, CEO and Founder of WISeKey.
Purchasing an exclusive piece of art is an important milestone in a collector’s life, but this purchase comes with concerns that the work may be stolen, that the art itself may not be an original, or that its provenance might not be verifiable. While most high-end art collectors find it difficult to stop such acts, WISeKey’s WISeART technology takes steps to protect exclusive pieces of artwork. It combines authentication microprocessors with identity blockchain technology, which, together with on-the-ground measures, can ensure the authenticity of the artwork.
Moreover, if the art is stolen, it can be traced, making it difficult to be traded on the secondary market. This control is made possible because each artwork’s identity is stored on a blockchain in the implemented system.
“We’re thrilled to help WISeKey launch its marketplace for physical authenticated works of art. Before Ocean, our team built ascribe.io, the world’s first blockchain-secured art platform. TrustedNFT.io will be one of the first use cases of our upcoming Ocean v4 release. The starting point is Ocean v3 ERC20 Fungible Tokens with AMMs to publish, stake and swap intellectual property licenses against base IP. V4 extends this to represent base IP as ERC721 Non-Fungible Tokens, enabling tokenization of real-world objects,” said Trent McConaghy, Founder of Ocean Protocol.
To learn more, watch the recent WISeKey webinar on TrustedNFT.io, featuring speakers from Ocean Protocol and WISeKey.
About WISeKey
WISeKey is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
The WISeAuthentic blockchain platform integrates the WISeKey semiconductors tags based on the company’s VaultIC154 NFC secure element. These tags, when placed on any product and tapped by an NFC phone, securely authenticate and track the product much like an embedded ePassport and confirm the identity of the product on the blockchain ledger. WISeKey has included the NFT capability to its WISe.ART which uses a patented method for digital certification of authenticity of a physical object, and corresponding computer program and storage device, as well as using the method for digital certification of authenticity of a physical object of value.
WISekey technology is trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit wisekey.com.
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About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. Projects use Ocean libraries and OCEAN in their own apps to help drive the Web3 Data Economy.
The Ocean token is used to stake on data, to govern Ocean Protocol’s community funding, and to buy & sell data. Its supply is disbursed over time to drive near-term growth and long-term sustainability. OCEAN is designed to increase with a rise in usage volume.
Visit oceanprotocol.com to find out more.
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About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.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 |
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 the purpose of TrustedNFT.io launched by WKEY?
Who are the partners in the TrustedNFT.io project?
How does TrustedNFT.io ensure the authenticity of artworks?
What type of items can be authenticated on TrustedNFT.io?
What are the benefits of the partnership between WKEY and Ocean Protocol?
