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Ledger sells NFTs to become a top OpenSea project

Ledger, a maker of hardware wallets, successfully launched [LEDGER] Market, or [L] Market for short, their NFT distribution platform this week.

The French company’s new NFT (non-fungible token) marketplace, which was first introduced during NFT.NYC in June during the Ledger Op3n conference, is intended to assist fashion and luxury firms, nonprofit organisations, and financial institutions.

NFT ventures including RTFKT and DeadFellaz, as well as Tag Heuer of LVMH, were some of [L] Market’s launch partners. Additionally, the business has started its own Artist in Residence programme. Owners of the first batch of Genesis Pass NFTs from Ledger will be able to purchase new Ledger hardware, receive exclusive drops, and redeem a limited-edition Black-on-Black Nano X.

The 10,000 Genesis passes were sold out during the first day of the market, and at of the time of publication, the collection topped OpenSea’s rankings for most trading volume with 1,637 ETH. Currently, passes cost about 0.56 ETH ($785) each.

A random address was chosen to participate in the mint after prospective buyers registered for the Genesis Pass pre-mint raffle. To create a Genesis Pass, the Ledger whitelist needed 0.1337 ETH per wallet. Because there shouldn’t be any other option, we have introduced the first secure mint in history, according to Ledger Chief Experience Officer Ian Rogers. According to the business, it protects 20% of all digital assets worldwide across more than 5 million wallets.

The so-called secure-mint from Ledger executes NFT transactions with “clear signing” as opposed to “blind signing.” According to the business, clear signing increases transparency by allowing users to view all transaction data at the time of signing and helps shield NFT collectors from common phishing scams.

Ledger Live, the wallet desktop and mobile programme that links to the Ledger Nano devices in order to transact and manage cryptocurrencies and NFTs, can be used to access [L] Market. In any event, it’s unclear whether Ledger’s market will be able to maintain interest over the long run.

More than 98% of OpenSea’s NFTs have never received a payment, according to Ledger, who claimed in promotional materials that most NFT marketplaces are cluttered with undesired digital assets.