The Alpha:

• The digital assets security firm Ledger announced the release of a new device called Ledger Stax, according to a press release shared with nft now.
• For the release, Ledger teamed up with Tony Fadell, the designer of the iPod. The device features a curved E Ink display which displays users’ artwork of choice even when the device is turned off.
• The company plans to release Ledger Stax in Q1 2023, though it’s available for pre-order now on Ledger.com. Ledger will also make it available from retailers like BestBuy in the United States in the coming months.
• Ledger Stax uses a USB-C connection to hook up to laptops and Bluetooth to connect to the Ledger Live Mobile app on smartphones. Ledger Connect, the company’s upcoming crypto wallet extension, will also enable it to connect to Web3 apps. Ledger Stax also supports wireless Qi charging.

Why it matters

Ledger is releasing its new wallet at a poignant time. In the wake of the FTX crypto scandal, both Web3 enthusiasts and skeptics are looking for ways to increase their security.

“With the Ledger Nano series, we created the most successful digital asset security hardware of all time—with more than 5 million sold and none ever hacked,” said Pascal Gauthier, CEO and Chairman of Ledger in the press release shared with nft now. “Digital assets are increasingly about identity and digital ownership, not just crypto like Bitcoin. The time is now for a device for more mainstream users. At the same time, we must not compromise on security.”

The interface of the new wallet is far more ergonomically friendly than previous Ledger wallet iterations, allowing users to manage their NFT collection and more than 500 coins via a touch interface. 

Each Ledger Stax comes with an Infinity Pass, which provides users with a free NFT that comes with future utility. Additionally, a Ledger Stax NFT is available to mint on Ledger Market to unlock access to exclusive NFT artwork from the company’s network of hand-picked artists. Ledger Market Genesis Pass holders retain special mint-priority for this artwork.

“Digging into Ledger’s proven security technology and trying all the ‘best’ hardware wallets out there convinced me to build a next-gen device with Pascal, Ian and the amazing Ledger team,” said Tony Fadell, designer of Ledger Stax and Principal at Build Collective, in the press release. “We need a user-friendly…no! A ‘user-delightful’ tool, to bring digital asset security to the rest of us, not just the geeks.”

Ledger Stax specs

• Dimensions: 85mm × 54mm × 6mm (credit card length and width)
• Security: Ledger EAL 5+ certified secure element
• Screen type: E Ink (up to 16 grays), customizable always-on lock screen, capacitive touch
• Screen resolution: 672 × 400 pixels
• Weight: 45g
• Connectivity: USB C, Bluetooth 5.2
• Magnet array for easy stacking
• Qi wireless charging

What’s next

This is one of the first efforts by a leading hardware wallet provider to “Apple-fy” digital asset security. Given the success of companies like Apple that have put a premium on user interfaces over the years, the move could start a trend that would arguably be a major help in onboarding people to Web3.

Ledger has already established itself as one of the leading hardware wallet Web3 entities, and it’s clearly aiming to dominate the market, which is projected to reach $1.72 billion in size by 2030. Security could end up being the thin end of the wedge when it comes to onboarding more people to Web3, as skeptics repeatedly call out the lack of protection against scams and crypto volatility as the primary concern in the space.

Appealing to a wider, non-Web3 native audience will be crucial to the development and proliferation of crypto and NFTs. Many acknowledge this won’t be accomplished until the convoluted technical barrier of wallets, passwords, seed phrases, and exchanges either dissolves or becomes frictionless. And, while the Web3 blockchain market size itself is expected to reach $33.53 billion by 2030, its growth will be severely hampered if industry drivers can’t succeed in democratizing the technology involved and flattening the space’s barriers to access.

But wait! There’s more:

This was breaking news and was regularly updated as new information became available.