HomeNFTSandbox and Ledger joining forces for security of crypto, NFTs and metaverse

Sandbox and Ledger joining forces for security of crypto, NFTs and metaverse

Also speaking on stage at the Non Fungible Conference in Lisbon that ended yesterday was Ian Rogers, Chief Experience Officer of Ledger, the popular hardware wallet company, who announced a new collaboration with The Sandbox metaverse. The goal is to bring greater security to the storage of NFTs

Beginning his presentation, Rogers explained how “we’re all pioneers in this room”, referring to the audience in the room. In fact, if we think about it for a moment, crypto was not born too many years ago (Bitcoin in 2009) and NFTs only in 2017 if we consider the launch of CryptoKitties as the beginning of the phenomenon.

NFTs and the digital scarcity according to Ledger

Ian Rogers’ speech goes on to explain that the real invention of Satoshi Nakamoto and then the application of NFTs is digital scarcity.

“Digital scarcity is one of the best inventions. It is about much more than digital art. The blockchain has revolutionized value and this new asset class, NFTs, represents something digital that we can lose or can even be stolen from”.

The ability to own something digital that is scarce and therefore valuable allows for a “new freedom”, according to Rogers, but it also brings with it new problems such as self custody

Indeed, NFTs are a revolutionary technology, but they pose the problem of having to custody assets without relying on centralized servers or banks and other intermediaries. NFTs, in fact, must necessarily be stored on wallets.

But this poses the problem of security: there is more responsibility and risk, and as a result of NFTs, explains Rogers:

“We found ourselves in this world very quickly, without even realizing it or knowing how to do it”.

He then adds that:

“Your value is secured on the blockchain, but you have to protect yourself and keep your keys safe. Your phone cannot, this is a technical fact”.

And of course this is where Ian talks about Ledger, suggesting it as suitable hardware to interact with Web3.

Ledger thus proposes itself as secure storage for NFTs. Furthermore, using the hardware wallet it is also possible to sign smart contracts to mint and interact with platforms in a secure way.

In fact, signing contracts blindly or without the right tools would, according to Rogers, be like unprotected sex:

“Blind signing is like unsafe sex, it is great until is not. It is stupid, but that’s what you do when you sign smart contracts not securely”.

ledger nano storage

Partnering with The Sandbox for more security in the crypto world

After explaining the potential of Ledger and its level of security, it was time for the big announcement.

Ledger has in fact announced a partnership with the famous The Sandbox metaverse where people will be able to learn and educate themselves about the security of the crypto world.

In The Sandbox, in fact, Ledger will have a sort of headquarters where users can go, ask questions and learn how the security of the crypto world works and how to protect themselves from scams by playing in the metaverse.

Amelia Tomasicchio
Amelia Tomasicchiohttps://cryptonomist.ch
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.