WISeKey is looking to facilitate in-app NFT transactions. The company is making the move now in anticipation of a burgeoning NFT market that it expects to emerge after Apple announced that it will allow App developers to gain access to content, services, and goods that are stored externally. Apple’s decision will enable the in-app trading of NFTs on mobile devices, and make NFTs far more accessible to the average consumer.
With that in mind, WISeKey is trying to update its existing WISe.ART NFT platform to make the general public feel more comfortable with NFT transactions. In that regard, the company highlighted its security posture, noting that most NFT platforms only guarantee proof of purchase during an NFT sale. That means that they will only confirm that a transaction has taken place, and will not necessarily attest to the quality or authenticity of an NFT.
WISe.ART, on the other hand, uses digital identity and PKI technologies to supplement a financial transaction with digital signatures from those witnessing it. For example, the transaction could have a signature from an independent expert that has appraised the NFT, or from the organization that minted it in the first place. As a result, WISe.ART is able to provide assurances about Authenticity and Provenance in addition to mere ownership.
A WISe.ART purchase can also come with a contract that sets guidelines for the future use and monetization of an NFT. The digital signatures, meanwhile, can be validated with the OISTE/WISeKey Root of Trust, which is compatible with the Android and iOS operating systems.
“Our WISe.ART platform has been designed using the most exigent requirements for security and authenticity, and it provides a breakthrough and unique approach to fulfill the needs of its customers,” said WISeKey Founder and CEO Carlos Moreira.
In late 2020, WISeKey unveiled a WISeCoin utility that uses the blockchain to facilitate secure transactions between IoT devices. The company has since released new VaultIC chips with NFC capabilities. The chips are intended for use in cold storage devices for cryptocurrency.