Benzinga | Apr 14, 2021 12:55PM EDT

WISeKey and CasperLabs Join Forces to Launch TrustedNFT.IO Technologies

WISeKey International Holding Ltd. ("WISeKey") ((SIX: WIHN, NASDAQ:WKEY), a leading global cybersecurity, AI, Blockchain and IoT company, today announced it is joining forces with CasperLabs, the developer of Casper, the most reliable and secure blockchain for businesses, in a strategic partnership to bring trust to the hype around Non-Fungible Tokens (NFT) with the launch of TrustedNFT.io. This strategic partnership will provide a dedicated, secure marketplace on the Casper Network for buying and selling NFTs, including artwork and luxury goods. The first major auction will occur in Summer 2021, with more information to come soon.

"By combining our Root of Trust with the Casper blockchain, we have created an innovative Trust Protocol that enables a wide range of use cases and business models, simply not possible with current blockchain-based solutions on their own," said Carlos Moreira, Founder and CEO of WISeKey. "The first application of this collaboration will be the auctioning of digital twins of artwork and luxury collectibles, which we indisputably move into the virtual world, yet make their illegal use impossible."

Casper blockchain is the first fully decentralized, truly scalable blockchain designed for real-world speed and security. Casper's familiar tools, open architectures and expert support make it simple and readily accessible for developers, and its public software platform makes pricing predictable and transparent for businesses. Unlike first generation blockchains, Casper provides an upgradable infrastructure that powers innovation and facilitates deployments across public, private and hybrid environments.

"CasperLabs is committed to ensuring successful outcomes for organizations looking to build innovative applications on the Casper Network," said Mrinal Manohar, Cofounder and CEO at CasperLabs. "Our partnership with WISeKey will set a new standard for responsible and secure NFT transactions during a period of historic interest. Both teams are deeply committed to delivering a more environmentally friendly and scalable option for the NFT community as it continues to evolve and excite new audiences worldwide."

Casper Network's Proof-of-Stake (PoS) architecture allows for a higher volume of secure transactions with no drop off in performance, while producing a fraction of the energy expended by traditional blockchain protocols. As interest in NFTs continues to accelerate, both organizations are committed to promoting a more environmentally-friendly consumption and distribution model.

With the support of CasperLabs, WISeKey's unique Digital Identification NFT platform technology will run on the Casper Network to deliver the most secure and scalable blockchain backend for creating real digital twins for valuable objects. This unique approach will make it possible to mint provenance and a digital version into an NFT that contains smart contracts on how the digital twin may be used, removing any uncertainty of what an NFT actually means to a collector by delivering authenticated digital twins to the art and luxury market.