We’re glad to announce an exclusive, first-of-its-kind partnership with Sotheby’s, the world’s premier destination for art and luxury, to offer collectors the leading and most trusted digital custody solution for the long-term security and preservation of digital art and assets.
Beginning in 2024, purchasers of top auction lots of digital art at Sotheby’s will receive a limited edition, co-branded Ledger x Sotheby’s Nano X (with plans to expand the offering to include Ledger Stax in the future) to securely and seamlessly manage select assets. Just as physical works of art are carefully stored and managed with the utmost care and security, digital art will now receive the same consideration for the long-term preservation and safety of digital art collections.
At a time when concerns about security, self-custody, and decentralization have come to the forefront within the digital community, the delivery of Ledger’s Nano X wallets to digital art collectors reinforces Sotheby’s commitment to ensuring collector confidence in the market and upholding the highest standards of security. Ledger’s hardware wallets remove the vulnerabilities of browser-based software wallets by incorporating true self-custody for all assets secured by the Ledger.
Ledger wallets also streamline digital art collection management for ease of access and are a user-friendly tool for collectors who are interested in joining the community for the first time. The branded hardware wallets will be exclusively available to Sotheby’s clients and will not be sold separately. Additionally, Ledger will provide white-glove concierge onboarding and services to ensure customer success and satisfaction.
“For collectors of digital art, security and self-custody are paramount,” said Ian Rogers, Chief Experience Officer at Ledger. “Digital ownership is bringing new collectors and artists and creating a new paradigm for existing art collectors. Just as we provide easy-to-use tools without compromising security or self-custody in the world of crypto, Ledger is here to support all digital art collectors on every chain. We’re excited to welcome Sotheby’s customers through this unique partnership.”
Moreover, the partnership will incorporate a cross-branded educational content series through Ledger Academy, the leading global digital asset education platform, which will be specially curated and published to Sotheby’s Metaverse to give collectors further background and insight into the fundamentals of web3, including concepts such as self-custody and decentralization, as well as a guide to web3 security and best practices for protecting digital assets.
Sebastian Fahey, Sotheby’s Managing Director of Global Fine Art and Executive Lead for Sotheby’s Metaverse, commented: “Ledger is one of the most trusted and reputable brands in digital asset security, and to partner with them to provide Sotheby’s purchasers with their industry-leading hardware wallets marks a significant step forward in our web3 evolution. Additionally, the opportunity to introduce collectors to Ledger Academy’s comprehensive library of education resources further solidifies Sotheby’s mission to not only reach the crypto community, but to bring traditional collectors into the world of web3, and assure all collectors that they have the most secure tools to transact and build digital art collections that will be secured for the future.”
Today’s announcement closely follows the recent news of the significant expansion of the industry-leading web3 capabilities of Sotheby’s Metaverse with the launch of a specially curated, peer-to-peer venue for secondary sales of digital art. In connection with the launch of the secondary market, Sotheby’s Metaverse also recently expanded its web3 functionality as a fully on-chain, integrated sales system where all peer-to-peer transactions will be executed on the Ethereum and Polygon blockchains, the networks of choice for digital art creators and collectors. Sotheby’s Metaverse is powered by Mojito, the web3 consumer engagement platform, of which Sotheby’s was an early investor in 2021.
The announcement also comes on the heels of Ledger’s product collaborations and brand partnerships with other luxury brands such as AMBUSH, RTFKT, Fendi, The Hundreds, VeeFriends and others to help individuals self-custody their assets while providing maximal security.