WISeKey Files Patent Application for Persistent and Authenticatable NFTs
November 09 2021 - 12:00PM
WISeKey Files Patent Application for
Persistent and Authenticatable NFTs
WISeKey filed a patent application for a
“System and Method for Providing Persistent Authenticatable NFT” in
the USA. NFTs using this method have increased value and will hold
long-term value.
Geneva, Switzerland – November 9,
2021: WISeKey International Holding Ltd. (“WISeKey”)
(NASDAQ: WKEY; SIX: WIHN), a leading global cybersecurity, IoT, and
AI company, today announced that it has filed a patent application
that ensures the provenance, authenticity, persistence, and
long‑term value of NFTs that are minted on Blockchains using this
method. During the minting process, this method allows to ensure
that the NFT is not corrupted, incomplete, or ambiguous.
In general, there is a high confidence in the
ability of a Blockchain to preserve and store the public key and
digital signature information of the NFT along with any subsequent
transaction data over long and very long periods of time. However,
a Blockchain cannot preserve information that the NFT does not
itself include. Such as disclosed in the patent application, it is
the information in a persistent off‑chain storage that establishes
the value and that needs to be authenticated and secured.
NFTs that are not created by this method will
not contain enough information to ensure that the minter of the NFT
was the originator or possessor of the object at the time of
minting or had authority to mint the NFT. Without identifying and
establishing the rights of the minter, the long-term value of the
NFT is diminished.
The information associated with an NFT can
easily degrade over long periods of time. For example, over several
decades or even over centuries the owner of an NFT, their
descendants, and others may find it difficult to discern whether an
NFT is authentic or what object the NFT is associated with, or the
location where the object itself is located. There is no assurance
that the NFT itself will preserve its ability to authenticate the
associated object or that its association with the object will be
preserved.
In order to solve these technical problems, the
methods protected by the patent application define the structure,
composition and minting process of an authenticatable and
persistent NFT to establish and maintain long-term value as well as
corresponding systems implementing these methods.
Carlos Moreira, WISeKey's CEO pointed out, “This
is an important patent application both for WISeKey as a company
and for the NFT ecosystem in general. As this patent application’s
methods and systems are adopted, the NFT marketplace will continue
to gain acceptance and legitimacy.”
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
installed base of over 1.6 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 leading edge of IoT as our semiconductors produce a
huge amount of Big Data that, when analyzed with Artificial
Intelligence (AI), can help industrial applications 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
WISeKeyCompany Contact:Carlos
MoreiraChairman & CEOTel: +41 22 594
3000info@wisekey.com |
WISeKey Investor Relations
(US)Contact:Lena CatiThe Equity Group
Inc.Tel: +1 212 836-9611lcati@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.
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