Hedera’s Hashgraph association invests in WiseKey’s subsidiary

Hashgraph Association (THA), the developer of Hedera Hashgraph, invested in WISe.ART, a subsidiary of WiseKey International, a publicly-traded company. In a statement, WiseKey said that the funds will be used to accelerate the broad adoption of Hedera an advance the integration of trusted NFTs in the WISe.ART platform. In a statement, Carlos Moreira, the funder of WiseKey said:

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

WISe.ART is a platform by Hedera Hashgraph’s technology that enables minting and trading Non-Fungible Tokens (NFT). It is integrated in WiseKey’s ecosystem, enabling users to remain anonymous while ensuring that the KYC processes are done. 

WISe.ART is owned by WiseKey, a company that is listed in the Nasdaq. It provides cybersecurity, artificial intelligence, blockchain, and IoT solutions. WiseKey stock has plunged by more than 28.2% in the past three days and 36% in the past 12 months.,

Last week, Hedera announced that it will boost prices for minting bulk NFTs in its ecosystem. The cost of minting 10k bulk NFTs in a collection will jump from $76.80 to $200 while minting a single NFT in a collection will drop from $0.05 to $0.02. This happened as the number of active monthly NFT ecosystem accounts rose to over 19,500 in July.

HBAR, Hedera Hashgraph’s token, rose by over 3% in the past 24 hours. It jumped to a high of $0.060, which was the 200-day moving average. In a note, Kamal Youssefi of the Hashgraph Association said:

“The creation of NFTs over the WISe.ART platform, secured through its high-grade security technologies, enables the authentication of physical objects and digital assets in a safe and compliant end-to-end process. This exemplifies the impactful applications that can be built on the Hedera network.”