WISeKey Soars 64% As NFT Play

The number of companies announcing NFT news continues to rise. Stocks with associated news on non-fungible tokens are seeing investor demand and rising share prices.

What Happened: Cybersecurity company WISeKey International Holdings WKEY announced it will launch an NFT application for digital identity verification of valuable objects. The platform will provide proof of ownership of digital and tangible assets.

WISeKey cites the acceleration of NFTs as helping to curb fraud and forgeries of artwork.

“The combination of digital identification with NFT will be a game changer in proving ownership of digital tangible assets,” the company said in the press release.

Related Link: Is Funko The Next Big NFT Winner?

Why It’s Important: WISeKey is a leader in the cybersecurity market, artificial intelligence and internet of things markets. The move by the company into NFTs could help boost the number of companies using its WISeKey Authentic platform.

The WISeKey Authentic platform uses a patented method for digital certification and authenticity of physical objects.

“Imagine an asset, such as a luxury watch or famous artwork that need to be authenticated, the NFT digital asset can be used to prove the ownership of the virtual and tangible object containing digitally signed information that is easily verifiable,” the company said.

WISeKey has over 100 patents. Combining the verification of physical and digital assets could make WISeKey stand out in the NFT field. “With this technology creators can turn their products into NFTs for copyright ideas.”

Price Action: Shares of WISeKey International Holdings closed 64% higher at $13.10 on Thursday and surged another 15% in the after-hours session at $15.08.

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