LoginID will provide FIDO2 strong authentication to non-fungible token (NFT) management tools provider NFT Pro to enable ‘Transaction Confirmation’ with biometrics.
NFT Pro is integrating LoginID’s APIs and SDKs with its platform to provide passwordless account recovery, as well as a digital signature and receipt binding individuals’ biometrics to transactions.
The Transaction Confirmation is based on an integration of LoginID’s biometric technology with the Algorand blockchain platform.
“Our enterprise clients demand extensive security AND (sic) seamless user experience when it comes to their customers buying NFTs,” NFT Pro CEO Christian Ferri comments. “LoginID gives our clients the best of both, whether they are selling from their website or the metaverse. This partnership is a natural fit for our white label platform.”
The global market for NFTs, which was $141 million in 2019, has surged to over $1.2 billion in the first half of 2021, according to the announcement. With the money come attackers attempting to use phishing and account takeovers to steal NFTs.
The integration of LoginID’s technology for FIDO2 biometric authentication by NFT Pro is meant to protect against these attacks.
“NFTs and their owners are becoming the latest target for hackers. The market is starting to experience more and more of these attacks, and in many cases, the attacks start with vulnerabilities created by the use of weak authentication,” says Jim Brown, CRO and co-founder of LoginID. “NFT PRO provides an extensive platform for building NFT campaigns, and will now include our FIDO2 strong authentication, which can help secure access to NFTs for customers.”
access management | authentication | biometrics | FIDO Alliance | fraud prevention | multi-factor authentication | secure transactions | standards