Wisekey Internat Stock Price, News & Analysis

WISeKey International Holding Ltd. (NASDAQ: WKEY) has announced the 2022 WISe.ART NFT Awards set to take place at the WISeKey Davos Event on May 25. The awards will honor individuals contributing significantly to the NFT industry over the past year. WISeKey's NFT platform incorporates advanced security technologies for digital identity and asset authentication. With a focus on environmentally friendly practices, the event aims to connect creative talents with investors and collectors globally.

WISeKey International Holding Ltd (NASDAQ: WKEY) will host its 14th Annual Cybersecurity Roundtable on May 25, 2022, in Davos. The event will feature discussions on critical cybersecurity topics, including the impact of hybrid warfare and the evolving Metaverse. As a core signatory of the Cybersecurity Tech Accord, WISeKey aims to promote civilian safety online. The agenda includes panel discussions and the 2022 Outstanding Achievement and NFT Awards, honoring advancements in technology. Events will be held at Hotel Europe, Davos, from 18:00 to 23:00 CET.

WISeKey International Holding has partnered with Casa de Alba Foundation and Luminaries21 to digitize cultural heritage through NFTs. The collaboration's first NFT, based on original Columbus documents, is valued at over $100 million, appraised by Christie's. This digital art, created by artist Pedro Sandoval, integrates 3D animation and music, highlighting Columbus's achievements. It will launch in Davos on May 25, 2022, and will be exhibited in major global museums for three years before sale. The WISe.Art platform aims to establish a high-value marketplace for NFTs.

WISeKey announced the sale of its 51% stake in arago for EUR 25.5 million, achieving over 5x return on its initial investment. This decision arose from differing business approaches between the two companies. Following the sale, WISeKey will receive net cash proceeds of EUR 17 million and maintain a strategic partnership with arago, integrating AI technology into its IoT solutions. The transaction aims to reduce operational losses and enhance profitability, while also cancelling share options to mitigate shareholder dilution.

WISeKey International Holding Ltd. (NASDAQ: WKEY) has announced a collaboration with ProArte y Cultura and SEGRE SUBASTAS to conduct a charity NFT sale aimed at supporting orphaned children from Ukraine. This initiative will run from April 15 to 30 on the WISeKey NFT platform. Featured artists include Pedro Sandoval and Amanda Weasy. The goal is to financially assist humanitarian organizations focused on children. NFTs will be minted with ownership documents, ensuring authenticity. Proceeds will directly benefit OISTE, a Geneva-based non-profit organization.

WISeKey reported a 51% revenue growth in FY 2021, totaling $22.3 million, up from $14.8 million in FY 2020. The gross profit margin also saw an increase, rising to 41% from 37%. The company's cash and cash equivalents, along with restricted cash, surged to $34.4 million from $21.8 million year-over-year. Carlos Moreira, CEO, noted strong demand for their products, particularly AI offerings from the acquired arago GmbH. Despite the revenue growth, the operating loss expanded to $26.7 million compared to $18.5 million in the previous year, highlighting ongoing challenges.

WISeKey International Holding, a Swiss cybersecurity company, has established WISeKey Gibraltar Ltd, a wholly owned subsidiary in Gibraltar. This move aims to support Phase II of the GLL4iR.COM project, which focuses on localizing technology using Gibraltar's data center fortress. The initiative includes launching a secure gateway to the metaverse and fostering a collaborative 4th Industrial Revolution Center of Excellence. The project will assist start-ups in fields like AI and IoT while promoting innovation and ensuring that technological standards are securely integrated.

WISeKey International Holding Ltd (NASDAQ: WKEY) is assisting governments in adapting to the Metaverse, addressing sovereignty challenges arising from global data storage and operations. The company has established a Memorandum of Understanding with Seychelles for a Digital Identity platform, collaborating on national initiatives like eGovernment. WISeKey aims to provide secure digital identities, enhancing citizen interaction in the Metaverse, which promises new opportunities in employment, education, and healthcare.

WISeKey International Holding Ltd (NASDAQ: WKEY) has announced its support for luxury brands looking to tokenize their watches as NFTs on the blockchain. This innovative approach allows brands to create unique digital identities for their luxury watches, appealing to millennial consumers who prefer digital ownership. According to Morgan Stanley, the luxury virtual goods market is expected to reach $50 billion by 2030. WISeKey currently protects over 2.5 million luxury watches through its dual factor authentication and blockchain technology, enhancing security and authenticity in the luxury market.