Celsius' Woes Sparks Ledger Sales Boom

Celsius' Woes Sparks Ledger Sales Boom

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 concerns surrounding cryptocurrency and digital assets, the company developed Ledger Market as a multichain NFT distribution platform that prioritizes secure NFT coins, sales and storage.

Launch partners include the Babylon DeFi protocol, LVMH's Tag Heuer and the NFT project DeadFellaz. Later this summer, users can get 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 aim is to provide fashion and luxury brands, charities and financial institutions with end-to-end security from creation to distribution. The offering will be integrated into 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 "increased 4.5x day-over-day on Celsius news and remain strong to date."

“Ledger makes all of 2020’s annual revenue quarterly today.”

Rogers added that sales correlate strongly with outflows from exchanges because the more people become educated, the “more they 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 participants. Additionally, they have partnered with NFT projects World of Women, Cool Cats, and Deadfellaz to expand their materials on an educational platform Ledger Academy.

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

On stage, he also revealed 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 of all time on OpenSea involved a ledger-backed Ethereum wallet.

Additionally, he promoted the use of clear signatures for NFTs as opposed to blind signatures “where you don’t even know where you are sending your NFTs.”

Recently, the company added a crypto wallet extension on Safari in beta called Ledger Connect. Users can link their Nano

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The Post-Celsius Woes Spark Boom in Ledger Sales is not financial advice.