Tangem Ring: The Fashionable Way to Store Your Crypto
At the Cardano Summit in Dubai, attendees were introduced to an innovative approach to crypto security: the world’s first hardware wallet fashioned into a ring, designed by Tangem. ADA coin enthusiasts at the event had the exclusive chance to slip on this novel accessory and explore its capabilities.
This digital asset storage device manufacturer seems intent on revolutionizing the typical appearance of crypto wallets. Tangem had previously ventured into creating a wallet resembling a set of three credit cards, compatible with both PCs and mobile devices. Each card contains a chip that creates a unique and secure private key, offering robust protection against unauthorized access. This wallet, mimicking the familiar credit card format, has gained popularity for its user-friendliness and reasonable price of just $50.
Following an $8 million investment from Japan's Shima Capital in May 2023, Tangem has been prolific in its releases.
The company first launched a limited-edition Shiba Inu-themed Tangem Wallet, featuring the image of the internet-famous dog. This series, limited to 5,000 units, sold out within days.
Tangem Wallet featuring Shiba Inu design. Source: shib.tangem
Afterwards, Tron announced their collaboration with Tangem. A special edition of TRON-branded hardware wallets was introduced in the shape of credit cards.
Tangem Wallet-Card featuring the Tron Logo. Source: X
Now, the crypto community is anticipating the release of Tangem's latest innovation — wallet jewelry.
The Enchanting Tangem Ring
A hundred VIP attendees at the immersive Cardano Summit 2023 were gifted with this wallet-ring as a token of appreciation.This gesture proved to be a smart marketing strategy in anticipation of the device's public release, as the internet quickly filled with glowing reviews and videos from the fortunate few who got to try this jewelry novelty.
The ring functions similarly to the wallet-card, but the experience of making payments with a ring certainly carries a flair of sophistication. It syncs up with NFC technology, ensuring close-range connectivity between electronic devices.
The ring, too, is embedded with a chip that generates a seed phrase, and the associated app grants the capability to set a personal PIN and enable biometric verification.
Each Tangem Ring comes with backup “credit cards,” providing a safety net should the ring go missing — after all, its one-size design does not allow for size adjustments. This ensures users can regain wallet access at any time.The gadget is slated for release in an array of hues: black, violet, sky blue, and emerald green.
Representatives from Tangem assured seminar participants that it would be as sturdy as any standard hardware wallet, so wearers can sport it as everyday jewelry without the worry of damage. The Tangem Ring will be crafted from zirconium dioxide — a ceramic material commonly employed in dental crowns.
While Tangem has yet to set the price, as they're still determining the production partnership, they've indicated an expected range of $100 to $160. Pre-orders are open, with a launch window targeted for February to March of 2024.
When Will the Next Innovation Arrive?
With their sights set on disrupting the market currently dominated by Ledger and Trezor, the developers at Tangem are hard at work carving out their own niche. Their latest creation, a seamless integration of a physical debit card chip with the Tangem app, could open up the world of cryptocurrency transactions to regular Visa terminals. If this device gains Visa certification, it would be a game-changer for Tangem and would undoubtedly shake up the market landscape.
Tangem's smart device user base has experienced remarkable growth, expanding over fivefold in the past year. To support this surge in demand, the company is actively ramping up its hiring efforts. These positive developments indicate that Tangem is well-positioned for success in the burgeoning digital asset ecosystem.
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