In an increasingly digital world, it is becoming clear that digital assets in the metaverse need to be protected as well as physical assets. As a hardware wallet primarily known for securing crypto, Ledger is now shifting its focus to protecting digital assets such as NFTs and the metaverse as a whole.
To learn more about Ledger’s role in the metaverse, NFTevening sat down with Ledger’s Vice President of Metaverse & Web3, Sébastien Badault, at Ledger Villa during NFC Lisbon.
Quotes have been condensed and edited for clarity.
Sebastian Badault: Vice President of Metaverse & Web3 at Ledger
In addition to being an overseas enthusiast, Sebastian is an experienced professional with years of experience at the intersection of technology, security, and virtual worlds. Prior to joining Ledger, Sebastian worked with reputable companies such as Alibaba, Google France and Amazon France. At Alibaba, he was instrumental in building the company’s luxury pavilion – the largest online luxury platform in China. However, his interest in virtual worlds began much earlier.
“My first job after college was a startup in 1995,” says Sebastian. “I was in e-commerce on Amazon, but that was like 98, that was really before Amazon took off. And then, you know, they moved on to Google, then Alibaba and Ledger.”
His interest in virtual worlds was intensified by his discovery of cryptocurrencies and the blockchain. “I bought some cryptocurrency like way back when. I don’t remember when I bought a bit, but I was aware of the space. But I became more interested in it,” he continues.
Brands embrace new technologies
Sebastian compares the 2021 crypto boom and NFT to the time he started working with luxury brands on 2 web marketing strategies. “YouTube presence in 160 countries from day to day; you can do homepage takeover and spread your brand on every screen,” he recalls. . “Those discussions took a while because I think at the time they were still very cautious about anything Internet related.”
He notes how this mindset has changed. Now, fifteen years later, he’s talking to the same brands about cryptocurrency and metaverse, and they’re eager to jump in the cart. “I find it very interesting, probably because they feel they’ve been slow to embrace some things in Web 2,” Sebastian says. “So they want to make sure they don’t miss this time. Also, they learned a lot. I talk to people who really impress me in terms of their knowledge or standards.”
Sebastian notes that luxury brands are still very interested in counterfeiting; In addition to finding new ways to communicate with customers. Therefore, they see Web 3 as a solution to a problem that has long affected the luxury goods sector. “This is amazing [referring to NFTs] A great way to show source and ownership. So I think he’s talking to them, too.”
By connecting their products to NFTs, luxury goods companies are finding new ways to tackle an old problem with an innovative, forward-looking solution. However, it all boils down to finding the right partners to implement a web3 strategy that protects your assets.
Why digital asset protection is critical
As Sebastian said, “If you lose the 1,000 euros that you have in your pocket, I will be very angry and frustrated. But if someone came to your house and stole a painting that belonged to your grandmother, that also equals 1,000, but you have an emotional attachment, you will be emotionally hurt too.”
This analogy fits well when it comes to stealing NFTs or other digital assets. “If you lose an NFT that has an emotional connection or connection to the community, your boarding, you don’t have access to the Frontier Community. That’s an emotional connection.”
Hardware wallets like Ledger create a secure environment that protects these assets. This is only possible because the Ledger team understands that people have emotional or societal attachments to their digital assets. It is therefore important to raise awareness of the need to protect these assets to the fullest extent.
“All these different things are going to bring a whole bunch of new people into the space…people who love art, people who love games, etc.” says Sebastian. Since NFTs are entry points into Web3 for these people, it is now more important than ever to teach them the importance of security and asset protection.
Ledger and metaverse
As Ledger’s Vice President of Metaverse & Web3, Sebastian knows a thing or two about metaverses. “I think the interoperability part is really the key. We are going to own more and more digital assets and properties like digital clothing, digital art and then even digital identity.”
Sebastian also mentions how he thinks the metaverse will be closer to augmented reality, rather than fully virtual reality…at least in the short term. However, this does not mean that we should get rid of hardware wallets.
“I also don’t subscribe to the idea that the metaverse would be ours with 3D glasses, just like in virtual worlds on them. I think we could be in metaverses now because I can show you something through a virtual screen that I can touch with my hands,” he said. Sebastian. “If we have augmented reality, I should be able to wear some kind of leather or whatever I have until I get it off my ledger.”
There is no doubt that great power comes with great responsibility. The world is becoming more digital and decentralized. As a result, each of us will have the ability to control our money and digital assets. This means that security is becoming more important. As a decentralized hardware wallet, Ledger positions itself as a physical solution to any way the metaverse will evolve in the coming years.