WISeKey, Italpreziosi and Kaufmann & Partners Signed a MoU for a Joint Venture to Commercialize Authenticated and Verified Trusted Gold NFTs
WISeKey, Italpreziosi and Kaufmann & Partners Signed a MoU for a Joint Venture to Commercialize Authenticated and Verified Trusted Gold NFTs.
The Trusted NFT is Backed by Gold and Precious Metals and Tradable on WISe.ART NFT Marketplace.
The Joint Venture PreciousMetalVerse.com will be Launched in January 2023.
The TrustedNFT Gold tokens represent ownership over physical gold bars that are stored in a vault in both Switzerland and Italy.
Italpreziosi offers a wide range of highly qualified and professional services in the field of gold and precious metals investments with particular attention to flexibility, creating ad hoc (1:1) products based on customer’s needs. Among the products we find gold bars and coins for individuals, ideal for those looking for investment in gold.
WISeKey International Holding Ltd., leading global cybersecurity, AI, Blockchain, and IoT company, today announced that it has been signed an MoU with Italpreziosi, one of the main operators in the production, refine and trade of precious metals, production and trade of investment gold based to offer Trusted NFTs that are backed by gold and have offsets carbon attached using WISeKey technologies. Both parties together with Kaufmann & Partners will create a Joint Venture in Switzerland of which WISeKey will have 51% of the capital allowing gold investment via NFT in total safety, without having to physically handle the products, opting to insert them directly into the Italpreziosi insured deposit.
The gold products, equipped with a NFT based digital identity, are tracked numerically and always covered by insurance for the entire duration of the deposit service, which is carried out in a third-party deposit, in order to be totally excluded from Italpreziosi’s assets.
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The TrustedNFT Gold tokens represent ownership over physical gold bars that are stored in a vault in Switzerland and Italy. Each TrustedNFT Gold represents an underlying bar of gold, with both the token and the physical bar of gold sharing a unique digital identity, which uses a patented method for digital certification of authenticity of a physical object of value. The method includes the steps of issuing a NFT, along with a digital certificate of authenticity containing encrypted information reflecting at least one characteristic unique to the physical gold bar, checking, whenever required, the validity of the digital certificate of authenticity by use of a network computer. The network computer cooperates with the storage device and a validating or a certifying authority so as to output sensibly in real time the status of validity of the digital certificate of authenticity, and modifying, whenever required.
The Gold NFT approach is to implement via a smart contract that enables users to trade NFTs for gold. This would let investors profit from the price movements of non-fungible tokens and gold, diversifying their portfolios and potentially lowering risk. The possibilities for such integration aren’t limited to gold. This mechanism is equally applicable to other precious metals.
The Trusted NFT Gold tokens are sold via the WISe.ART NFT platform with a digital certificate warranty and KYC process ensuring NFT’s owner has full legal rights to redeem the physical gold bar and facilitating the transfer as Trusted NFT Gold owners are with this technology able to sale their gold totally decentralized via the WISe.ART NFT platform and blockchain. A special edition of Trusted NFT Gold will be gradually listed on the WISe.ART NFT marketplace, with the tokens representing either one ounce of gold, 10 grams of gold, or 100 grams of gold respectively. Though the unique way of minting NFTs on the WISe.ART platform always including the digital asset itself, proof of integrity and provenance as well as contracts to define the rights of the owner, the WISe.ART platform creates the only marketplace where NFTs are actual usable digital twins and the TrustedCoin is the entry point into this ecosystem.
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The NFT design of the WISe.Art platform ensures that besides an authenticated and signed version of the actual digital asset, an irreversible link to a physical object is set up, in addition to proof of ownership, provenance and a set of contracts describing future use and monetization streams. NFTs and platform are secured by WISeKey’s various security technology enabling the authentication of physical objects as well as digital assets in a safe end-to-end process.
The partnership with Green NFT also ensures that NFTs on the WISe.Art platform are fully carbon neutral to comply with upcoming ESG regulations and the desire of most collectors to protect the planet. The platform also includes permanent storage of the NFTs and as well as token rewards for participants in auctions, curators and other companies or individuals that contribute to the community.
Ivana Ciabatti, CEO at Italpreziosi Spa noted, “Italpreziosi has always had a farsighted vision towards innovation, fintech and sustainability. This Joint Venture will be the perfect synergy between all of these components, strengthened by the collaboration of world class players. We believe that through this JV we will be able to satisfy the growing market demand with an innovative product and the highest quality services.”
“At Kaufmann & Partners we just invest into world-class players which are always looking for disruptive innovation: WISeKey together with Italpreziosi are leading major changes across the fintech and De-Fi space. This partnership will strengthen the support of building up a brand-new asset class for investors eager to participate into the next wave for fintech. Aiming to leverage the transition to Web 3.0 will be the key mission of that evolution,” said Francesco De Leo Ph.D., Executive Chairman at Kaufmann & Partners and Ambassador at Large at the World Artificial Intelligence Festival Cannes.
Carlos Moreira, Founder and CEO of WISeKey International Holding, said, “The opportunity for a WISeKey Italpreziosi joint venture is unequaled in the gold NFT market. WISeKey is the only company in the world that delivers a vertical cybersecurity service platform from Root of Trust to Chip To NFT. The joint venture, will deliver an end-to-end solution and I am very much looking forward to this cooperation as and I am confident that we will continue to experience significant technological accomplishments and create shareholder value on this market.”
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