23 Jan Ledger teams up with Arts DAO for crypto digital storage
Ledger is providing hard wallet solutions for UAE Arts DAO members to safeguard cryptocurrency.
Hard wallet solutions keep your vital data offline in a hardware wallet, allowing only the owner access. Cryptocurrency is a ‘private key’ and it is this little piece of data that is needed in order to approve outgoing transactions on the blockchain network.
Without it – whether it is lost, stolen or the storage device it’s on malfunctions – you can not gain access to your cryptocurrency. The use of hard wallets ensures your data can’t be accessed by hackers, even if your computer is hacked.
Arts DAO is the largest NFT and Web 3.0 community in the Middle East. It created 100 Ledger NFTs as part of a limited edition collection to celebrate the partnership. In addition its community was provided branded ledgers which allows NFT owners to claim a physical Ledger hard wallet too.
Danosch Zahedi, Co-Founder of Arts DAO, said: “Ledgers are a so-called ‘cold storage’ solution. People are always looking for safer places to store their cryptocurrency, and thanks to decentralised finance, anyone with a cold storage wallet may basically act as their own bank.
“This is crucial considering recent market volatility in the cryptocurrency space as well as future-defining events like the FTX collapse.”