The non-fungible token (NFT) surge is unrelenting, it seems. Today, WISeKey (NADSAQ:WKEY) is up a whopping 100% at the time of writing. Investors in WKEY stock should certainly be jumping up and down right now.
Now, this is a stock that already had plans of moving into NFT space. The company made an announcement last week that it was developing an interesting NFT application. The app would use digital identification technology on the blockchain to secure, authenticate and prove ownership of digital assets. Given the surge in NFT interest of late, those investing in these tokens will provide a great deal of demand for verifying the authenticity of NFTs which can, in some cases, cost a fortune.
However, today, the company made a follow up announcement — the launch of this application.
Wise.Art Tech Providing a Big Boost for WKEY Stock
Today, WISeKey announced it has a name for its “certificate of authenticity” NFT application — WISe.ART.
What is WISe.ART?
The company claims this technology relies on methods which “include the use of cutting-edge authentication microprocessors combined with identity blockchain technology, which together with on-the-ground measures can ensure the authenticity of artwork.”
This is the certificate of authenticity technology the company has been working on. Currently, NFTs can be created to commoditize various collectibles. However, in theory, an infinite number of copies can be made, by different individuals. NFTs such as WISe.ART aim at assuaging these concerns. WISeKey is hopeful this technology will add credence to this nascent industry, and further promote investment in the surging NFT space.
Additionally, the company released an intriguing demo video describing how its product works. I’d encourage those interested to have a look for more information on what this technology does.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.