Benzinga | Mar 24, 2021 01:14PM EDT

WISeKey Introduces WISe.Art, A Digital Certificate Of Authenticity, Non-Fungible Token, That Lives Forever On The Blockchain

WISeKey $WKEY introduces WISe.Art, a digital certificate of authenticity -- a "non-fungible token" (NFT) -- that lives forever on the blockchain, unchanged and unchallengeable, as proof of buyer's ownership

WISeKey's cutting-edge Digital Identity already protects over 2 million luxury objects minted on the blockchain potentially represented by trusted NFTs

WISe.ART methods 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 the artwork - see video https://youtu.be/oNvhMvdchGk

Samples of WISe.ART on OpenSea NFT MarketPlace https://opensea.io/accounts/WISeArt

Geneva, Switzerland -- March 24, 2021 -- WISeKey International Holding Ltd (WIHN.SIX), a Swiss based cyber security, IoT, AI platform company, today announced the launch of WISeArt, a certificate of authenticity -- a "non-fungible token" (NFT) -- that will live forever on the blockchain, unchanged and unchallengeable, as proof of the buyer's ownership.

A WISeKey NFT is a unit of data on the blockchain, where each NFT represents a unique digital item, such as an artwork, audio, video, an item in video games or other forms of creative work. While digital files themselves are infinitely reproducible, NFTs representing them are traced on their underlying blockchains and provide buyers with proof of ownership. Blockchains such as Ethereum, Bitcoin Cash and Flow, each have their own token standards to define their use of NFTs.

NFTs can be used to commodify digital creations, such as digital art, video game items, and music files. Art creators have been using NFTs to capitalize on their work through cryptographic tools, but concerns and questions remain about authorship, authenticity and who could claim sole rights over the art.

Purchasing an exclusive piece of art is always a matter of great joy and pride, but this purchase comes with the concern that the timepiece maybe stolen, the art itself may not be an original or its provenance might not be verifiable. While most high-end art collectors find it extremely difficult to stop such acts, WISeKey with its WISeArt technology, has taken steps to protect exclusive pieces of artwork. Reliable methods 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 the artwork (see video https://youtu.be/oNvhMvdchGk). Moreover, if the art is stolen, it can be traced thus making it difficult to be traded on the secondary market. This control is possible to practice because the identity of each artwork is stored on an immutable ledger in the implemented system.

While most people consider blockchain technologies as a vital component in securing cryptocurrencies such as Bitcoin, the cryptography and security inherent in the blockchain combined with PKI and microprocessors system can be utilized for storing information, making transactions and performing functions for web-based services that demand high security requirements for an impenetrable global reach.

WISeAuthentic blockchain, provides brands with the ability of:

* issuing a storage device comprising of a digital certificate of authenticity

* checking, when required, the validity of the digital certificate of authenticity

* modifying, when required, the status of validity of the digital certificate of authenticity.

The WISeAuthentic blockchain platform integrates the WISeKey Semiconductors tags based on the company's VaultIC154 NFC secure element. These tags, when placed on any product and tapped by an NFC phone, securely authenticate and track the product much like an embedded ePassport and confirm the identity of the product on the blockchain ledger.

"WISeKey has long been recognized as a leader in providing luxury and other product manufacturers with reliable means to protect their brands against counterfeiting," said Carlos Moreira, Founder and CEO of WISeKey. "With the addition of the WISeAuthentic blockchain platform, we can now provide our clients with a powerful and unified way to shield their brands from the harmful effects of counterfeiting, while providing enhanced visibility into their end-consumers."

WISeKey has included the WISe.ART NFT capability to its WISeAuthentic Platform ( https://www.wisekey.com/wiseauthentic-blockchain/), which uses a patented method for digital certification of authenticity of a physical object, and corresponding computer program and storage device, as well as using the method for digital certification of authenticity of a physical object of value.

The method includes the steps of issuing a storage device, including a digital certificate of authenticity including encrypted information reflecting at least one characteristic unique to the physical object, checking, whenever required, the validity of the digital certificate of authenticity by use of a network computer, the network computer cooperating with the storage device and a validating or a certifying authority so as to output sensibly in real time the status of validity of the digital certificate of authenticity, and modifying, whenever required.