Celsius’ Woes Spark Boom in Ledger Sales


  • Ledger safeguards 20% of the world’s digital assets, the company says
  • “We want to power the NFT revolution,” says Ledger CEO

Hardware wallet manufacturer Ledger announced at NFT.NYC an expansion of security offerings as part of its NFT products and its Ledger Enterprise arm. 

In response to growing security issues around cryptocurrency and digital assets, the company developed Ledger Market to be a multichain NFT distribution platform that prioritizes safe NFT mints, sales and storage. 

Launch partners include Babylon DeFi protocol, Tag Heuer of LVMH, and the DeadFellaz NFT project, among others. Later this summer users may obtain the Ledger Market Pass, a Genesis NFT with access to exclusive collaborations, limited edition hardware and airdrops of Art NFTs from Ledger’s artist in residence programs. 

Also announced in New York was Ledger Enterprise Create, an NFT management platform for brands to scale their Web3 operations. The goal is to provide end-to-end, creation-to-distribution security for fashion & luxury brands, charities and financial institutions. Ther offering will integrate with Ledger Market, as well as secure treasury management and smart contract creation and ownership capabilities.

When asked about the impact of the market downturn on the company, Ian Rogers, Ledger’s chief experience officer, told Blockworks that sales “jumped 4.5x day-over-day on the Celsius news, and continue to be strong to this day.

“Ledger is doing quarterly, the entire annual revenue of 2020 today.”

Rogers added that sales are highly correlated with outflows from exchanges because the more people get educated, the “more they come to value security and self-custody as a result.” 

Education is part of Ledger’s mission. As part of a Web3 education initiative, the company also launched Ledger Quest, a learn-to-earn platform with gaming quests and NFT rewards for Web3 entrants. Additionally, they have partnered with NFT projects World of Women, Cool Cats and Deadfellaz to expand its materials on a Ledger Academy educational platform.

During the Ledger Op3n conference at NFT.NYC on Wednesday, Ledger’s Chief Executive Officer Pascal Gauthier compared a hardware wallet to a smartphone, calling it a “critical digital device” when it comes to interacting safely with the digital asset ecosystem.

He also revealed while on stage that nearly a third of NFT marketplace OpenSea’s trading volume involves a Ledger customer as a buyer, seller, or both. And 45% of the top 100 transactions ever on OpenSea involved a Ledger-secured Ethereum wallet.

Additionally, he touted the use of clear-signing for NFTs, as opposed to blind-signing “where you don’t even know where you’re sending your NFTs to.”

Recently, the firm added a crypto wallet extension on Safari in beta called Ledger Connect. Users can link their Nano X to confirm transactions, and Connect will warn users of bad actors or flagged scams, as well as reveal a user’s resulting balance prior to validation.


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  • Blockworks

    Reporter

    Ornella is a Miami-based multimedia journalist covering NFTs, the metaverse and DeFi. Prior to joining Blockworks, she reported for Cointelegraph and has also worked for TV outlets such as CNBC and Telemundo. She originally began investing in ethereum after hearing about it from her dad and hasn’t looked back. She speaks English, Spanish, French and Italian. Contact Ornella at [email protected]



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