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Source: ESB Professional, Shutterstock
WISeKey (WKEY:US or NASDAQ: WKEY) introduced its Non-Fungible Token (NFT) application, WiSe.ART on Wednesday, March 24, to offer certificates of authenticity for artwork and digital assets. Its stock jumped nearly 101 per cent, and its one-day trading volume also towered to 86.23 million on the back of the NFT app launch.
The company has claimed that blockchain technology will authenticate and secure artwork and maintain ownership of virtual assets.
This rising NFT trend has been aligning quickly with multiple sectors, propelled by the urgent need for curbing scams across digital businesses.
On March 24, the company collaborated with Cortus SAS, a chip designer and IP core provider, to offer advanced end-to-end digital security to the autonomous vehicle market. This strategic partnership might expand in core fields such as Artificial Intelligence (AI), the Internet of Things (IoT), and smart computing.
The global autonomous car industry is projected to rise at the compound rate of 63.1 per cent from 2021 to 2030 to achieve 4,223.8 thousand vehicles delivery by 2030.
Let us jump into the digital service stock’s performance:
WISeKey International Holding Ltd (US:WKEY or NASDAQ: WKEY)
The Swiss semiconductor firm is offering AI and IoT products along with blockchain-powered digital identity certifications.
The stock has soared over 174 per cent month-to-date (MTD), guided by the NFT operations. It has a noticeable one-year growth of over 189 per cent along with a 10-day volume of 9.9 million shares.
The IoT company’s share price stands at US4 20.52, up 426 per cent against its 52-week low of US$ 3.9 apiece (recorded on May 12, 2020). It also created a record high of US$ 22.40 per common share yesterday.
WISeKey International Holding's One-Year Stock Performance Chart. (Source: EODHD/Others)
On March 22, WISeKey bagged a contract from Billion Group, a distributed ledger tech company, to offer Managed Public Key Infrastructure, facilitating genuine document signing service through blockchain technology.
The company also provides an online vaccination certification service via VaccineTrusts.com, to individuals who have been inoculated against COVID-19.
WISeKey Stock Forecast
NFTs’ buying frenzy could push WISeKey stock higher, as the blockchain-based ownership proof popularity is spreading like a fire. NFTs represent digital fine art, scripts, social media posts (Recently added Jack Dorsey’s first-ever tweet), video games, and music files (e.g., Elon Musk’s NFT theme song).
