January 16, 2023
By Anjali Kochhar
Arts DAO, which touts itself as one of the largest non-fungible tokens (NFTs) and Web 3.0 communities 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.
France-based Ledger, on the other hand, is the leading secure gateway for digital assets.
‘100 Ledger NFTs,’ the first Ledger NFTs ever released, were part of a limited-edition collection created by Arts DAO to honour this groundbreaking partnership.
“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.”
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.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.