WISeKey Provides
an Update on its
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.
WISeKey’s patent application with the US Patent
and Trademark Office (USPTO), can be found under the number US
17/514,296.
Geneva, Switzerland – March
30, 2021: WISeKey
International Holding Ltd. (“WISeKey”) (NASDAQ: WKEY; SIX: WIHN), a
leading global cybersecurity, IoT, and AI company, is pleased
to confirm the filing of patent application for a “System and
Method for Providing Persistent Authenticatable NFT the above
captioned with the US Patent and Trademark Office (USPTO), under
the number US 17/514,296.
The 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.”
WISeKey has develop a WISe.ART 2.1 NFT Marketplace version based
on this unique patent pending NFT technology; its Marketplace is
fully operational and includes new features providing art
collectors and artists 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.
To further increase its ecosystem of artists using the WISe.ART
NFT platform, WISeKey has joined forces with the Crypto Art Island
event, the first European NFT art fair which takes place in
Gibraltar, from April 29 to May 4, 2022. During the event, some of
the world’s most innovative NFT art created by leading artists will
be auctioned on WISeKey’s entrusted NFT platform, WISe.ART.
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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