Exclusive: WISeKey CEO On NFT Opportunity, Business Model For The Internet Of Things | Benzinga

The CEO of WISeKey International Holdings (NASDAQ:WKEY) joined Benzinga’s “Power Hour” Friday to debate particulars of the corporate and its NFT alternative.

NFT Opportunity: CEO Carlos Moreira instructed Benzinga the again finish of expertise for non-fungible tokens has been current for a few years and is now turning into monetizable. WISeKey is engaged on connecting bodily and digital items along with distinctive NFTs.

The firm announced the first-ever safe luxurious NFT watch public sale taking place on March 31 on OpenSea. The NFT watch will likely be embedded with a digital certificates.

“Establishing a relation between the object and NFT is essential,” Moreira mentioned.

WISeKey has been certifying bodily objects for years with over 1.6 billion bodily objects already tagged.

“This is becoming the business model for the Internet of Things that we have been doing for many years.”

Moreira mentioned that with this expertise, folks can preserve the unique bodily asset and monetize the dual of the merchandise as an NFT. WISeKey permits costly objects to have a enterprise mannequin.

“This is a breakthrough, brings a enterprise mannequin to the crypto world,” Moreira mentioned, noting that WISeKey has a patent on a part of the method.

What’s Next: Moreira instructed Benzinga an announcement will likely be coming subsequent week discussing further costly watch NFTs.

WISeKey is the primary cybersecurity firm to enter the NFT house, Moreira mentioned, and the corporate needs to change into the Amazon.com (NASDAQ:AMZN) of the NFT market: “Everything is going to be connected to the internet.”

The Internet of Things is among the fastest-growing applied sciences round and WISeKey helps to offer options for companies within the NFT house and in addition in cybersecurity.

Growth Ahead: WISeKey did an acquisition at the start of the 12 months to assist gasoline progress, the CEO mentioned. Shares of WISeKey commerce as ADRs within the U.S., which may give the corporate a chance to do a bigger itemizing within the U.S. sooner or later.

Moreira instructed Benzinga WISeKey is not only an NFT firm and has some joint ventures in place to assist develop its cybersecurity and Internet of Things companies.

A three way partnership in Saudi Arabia may very well be big as plans name for the constructing of sensible cities in 2030, which is able to want plenty of chips and the corporate’s expertise.

“Cybersecurity not global, need to work with joint ventures,” Moreira mentioned, including the corporate has a robust three way partnership in India.

WKEY Price Action: Shares of WISeKey closed up extra 6% at $15.19. The inventory hit a each day excessive of $20.95 previous to the interview.

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