Hedera Hashgraph Association invests in subsidiary WiseKey

Hedera Hashgraph Association invests in subsidiary WiseKey

Hashgraph Association (THA), developer Hedera Hashgraph, invested in WISe.ART, a subsidiary of the public company WiseKey International. WiseKey said in a statement that the funds will be used to accelerate the widespread adoption of Hedera and advance the integration of trusted NFTs into the WISe.ART platform. In a statement, Carlos Moreira, founder of WiseKey, said:

“The funding will enable us to accelerate the development of our WISe.ART V 3.0 platform and commercialize an extension of our Trusted NFT solution. We look forward to working with THA and Hedera on their plan to issue tokenized shares through registry-based securities, a process commonly known as “tokenization.”

WISe.ART is a platform based on Hedera Hashgraph technology that allows you to create and trade non-fungible tokens (NFTs). It is integrated into the WiseKey ecosystem, which allows users to remain anonymous while ensuring the implementation of KYC processes.

WISe.ART is owned by WiseKey, a Nasdaq listed company. She’s into cybersecurity artificial intelligence, blockchain and IoT solutions. WiseKey shares are down over 28.2% in the last three days and 36% in the last 12 months.

Last week, Hedera announced that it would be raising prices for NFT mass issuance across its ecosystem. Price coinage 10,000 NFTs in the collection will rise from $76.80 to $200, while the mintage of one NFT in the collection will drop from $0.05 to $0.02. This came as the number of active monthly accounts in the NFT ecosystem surpassed 19,500 in July.

HBAR, the Hedera Hashgraph token, is up 5% in the last 24 hours and more than 20% in a week, making it the top 100 cryptocurrency by market cap.

In a note, Kamal Youssefi of the Hashgraph Association said:

“Creating an NFT on the WISe.ART platform, secured with its high-end security technologies, allows physical objects and digital assets to be authenticated in a secure and interoperable end-to-end process. This is an example of efficient applications that can be built on the Hedera network.”

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