WISeKey Empowers Luxury Brands with
Advanced NFT Technology to Digitally Authenticate and Represent
Unique Products
Secure NFT tags embedded as
ePassports can be affixed to any
product and
create a unique digital
footprint.
Geneva, Switzerland – September 5, 2023 –
WISeKey International Holding Ltd (SIX: WIHN, NASDAQ: WKEY), a
leader in cybersecurity, digital identity, and Internet of Things
(IoT) solutions operating as a holding company, today announced
that it is supporting luxury brands’ efforts to NFT (non-fungible
tokens) their products as unique, digital assets, unalterably
registered on a blockchain, which can be bought and sold like any
other product or commodity. As the world of luxury goods intersects
with the digital realm, WISeKey's trusted NFT technology is
ushering in a new era of authentication and representation. By
leveraging the groundbreaking concept of NFTs luxury brands can now
create a unique digital footprint for their products on the
blockchain.
NFTs are distinctive digital assets that
symbolize ownership or proof of authenticity of a unique item,
using the revolutionary blockchain technology are now gaining
monumental traction in the art and collectibles domain. Unlike
fungible cryptocurrencies like Bitcoin or Ethereum, NFTs are
non-fungible, signifying each token's distinctness and
non-interchangeable nature. Beyond digital art and collectibles,
NFTs have vast potential, and can be used to tokenize assets
ranging from digital artwork, music, videos, virtual real estate,
in-game virtual goods, domain names, in addition to tangible assets
such as real estate and luxury goods.
Ensuring the distinctiveness, origin, and
permanence of NFTs, blockchain technology embeds each token with a
unique identifier and ownership details, ensuring easy verification
and nullifying unauthorized duplications or alterations.
Capitalizing on this, WISeKey provides a
seamless bridge between luxury items and the digital metaverse.
Luxury brands, without the need for a physical product, can now
create unalterably registered NFTs on a blockchain, a move aligned
with the digital preferences of the younger generation.
Notably, WISeKey's VaultIC154 NFC secure element
can be integrated into luxury items, enabling secure authentication
when accessed by an NFC device. Furthermore, the technology grants
brands the prowess to issue, validate, and adjust digital
certificates of authenticity, fortifying against
counterfeiting.
WISeKey's innovation heralds a paradigm shift in
luxury product authentication, positioning luxury brands at the
digital forefront, readying for a future where tangible and digital
realms intertwine seamlessly.
WISeKey, a global pioneer in combining
dual-factor authentication with blockchain technology, ensures the
security of luxury mechanical watches. As of now, it safeguards
over 2.5 million luxury timepieces.Since 2010, WISeKey has
partnered with luxury watch manufacturers to deploy its distinctive
technology. Using its VaultIC155 NFC secure element, WISeKey
integrates semiconductor tags into luxury items including bags,
watches, jewelry, accessories, perfumes, etc. These capabilities
empower brands to:1. Issue storage devices with a digital
certificate of authenticity. 2. Verify the authenticity of the
digital certificate as needed. 3. Update the status of the digital
certificate's validity when necessary. 4. Initiate the
dematerialization of a product and its Digital Twin transformation
into a corresponding NFT.
These tags, akin to an embedded ePassport, can
be affixed to any product. When tapped by an NFC-enabled phone,
they securely authenticate and trace the item, registering its
identity on the blockchain ledger. This innovative approach has
earned WISeKey a US patent, which can be explored here.In
addition, WISeKey offers a groundbreaking concept: the Product
Watch Birth Certificate. This digital identifier is
comparable to a product's birth certificate, replete with details
such as its manufacturing date and company. By transitioning into a
"Trusted Object" on the Internet, it equips the luxury product with
a robust digital identity, furnishing verifiable data throughout
its lifecycle.The essence of this Product Birth Certificate lies in
its unique cryptographic key pair. While its public key is shared
openly as part of the certificate, the private key operates in the
background to validate the IoT device's identity and guarantee
data's cryptographic integrity. This private key is the very crux
of the IoT device's identity.About WISeKeyWISeKey
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.Press and investor
contacts:WISeKey International Holding LtdCompany Contact:
Carlos MoreiraChairman & CEOTel: +41 22 594
3000info@wisekey.comWISeKey Investor Relations (US)Contact: Lena
CatiThe Equity Group Inc.Tel: +1 212
836-9611lcati@equityny.comDisclaimer: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
the Swiss Financial Services Act (“FinSA”), the FInSa’s predecessor
legislation or advertising within the meaning of the FinSA.
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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