WISe.ART AG, a Subsidiary of WISeKey, Receives Strategic Funding from The Hashgraph Association
WISe.ART AG, a Subsidiary of WISeKey, Receives Strategic Funding from The Hashgraph Association to Accelerate Trusted NFT Adoption via the WISe.ART Platform
WISeKey International Holding Ltd, a leader in cybersecurity, AI, Blockchain, and IoT operating as a holding company, announced 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.
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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.
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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.
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