Arts DAO, the largest non-fungible tokens (NFTs) and Web 3.0 community in the Middle East, has partnered with Ledger, the world’s top source of digital storage for cryptocurrencies, in order to provide hard wallet solutions for its members.
Arts DAO is a decentralized autonomous organization (DAO) representing the largest Web 3.0 and NFT community in the region which is currently investing in blue-chip NFTs, supporting major corporations with their Web3 strategy, and backing great founders building in Web3.
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Arts DAO has revolutionized how a DAO can invest in the NFT space in a highly attractive way to the token holders.
France-based Ledger, on the other hand, is the leading secure gateway for digital assets. Founded in 2014 by specialists with complementary backgrounds in embedded security, cryptocurrency, and entrepreneurship, it develops secure solutions for blockchain applications.
At present, more than 800 people work for Ledger SAS and its affiliates in Paris, Vierzon, New York, Zurich, and Singapore. The company has sold more than five million devices to customers in 200 different countries and is responsible for securing 20 percent of all crypto assets stored globally as of today.
‘100 Ledger NFTs,’ the first Ledger NFTs ever released, were part of a limited-edition collection created by Arts DAO to honor this groundbreaking partnership. Additionally, Arts DAO provided community members with branded ledgers, allowing NFT owners to claim a physical Ledger hard wallet.
“Ledgers are a so-called ‘cold storage’ solution,” explains Danosch Zahedi, Co-Founder of Arts DAO. “People are always looking for safer places to store their cryptocurrency, and thanks to decentralized finance, anyone with a cold storage wallet may basically act as their own bank. This is crucial in light of recent market volatility in the cryptocurrency space as well as future-defining events like the FTX collapse.”
According to Anas Bhurtun, Co-Founder of Arts DAO, “Dubai has constantly shown its dedication to the virtual economy, with historic regulatory developments providing a framework for companies dealing with digital assets like cryptocurrencies and NFTs.”
Dubai launched a proposal in 2016 to have a fully digital government by 2021. The emirate established the Global Blockchain Council as part of that endeavor. The objective was to integrate technology into all aspects of city administration, including security, transportation, and health.
As explained by Ledger, what you actually own when you purchase a cryptocurrency is a “private key,” a vital piece of data required to approve outgoing transactions on the blockchain network. Anyone who is aware of this key may use the related funds. There is no bank or other organization to back you up or provide you with a replacement if your private keys are lost, stolen, or if you keep them on a device that malfunctions. As a result, you lose access to your cryptocurrency.
Arts DAO advises clients to use a hardware wallet solution, where your private keys are kept offline in a hardware wallet so only you have access to them. As a result, your wallet is no longer at risk of being compromised by hackers who can’t get to the device or the private keys inside. Even if a hacker manages to take over your computer, they won’t be able to access your crypto assets by stealing your private keys if you have a hardware wallet. The risk of hacking is reduced because your private key is stored offline.
Arts DAO has a variety of clients from several different industries. Currently, the company is looking to expand into many more avenues with their clients, including blockchain gaming, blockchain streaming and music, and digital fashion.
The two main pillars of Arts DAO are community and consulting. With hundreds of members as of today and rapidly growing, the community is bringing together the Middle East’s largest Web 3.0 community.
The consulting component is a Web 3.0 consulting and advisory service that provides Web 1, 2, and 3 brands advice on how to tokenize customer loyalty, use decentralized cultures to engage customers directly, and boost security and speed in online business.
Read more: NIFTY Souq, MENA’s first NFT marketplace, secures $1.5 mln investment
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