Samsung collaborates with Theta Labs for the Galaxy NFT Ecosystem. The year 2022 is undoubtedly a banner year in the crypto and NFTs sector. Several projects have been launched and electronics giants such as Samsung have not remained on the sidelines.
The South Korean company has announced since the beginning of the year the launch of somewhat special connected televisions. They would integrate a platform for aggregation, exploration, and exchange of NFTs.
To go further, an entire ecosystem has been designed for Samsung smartphones. It is to give life to this project that the partnership with Theta Lab constitutes a major turning point. This is both for Samsung Electronics, but also for Theta Labs, and the other partners in this project.
What is the Galaxy NFT Ecosystem?
For the moment there are not enough elements to understand all the aspects of this innovation. As a prelude to the launch of the Galaxy NFT Ecosystem, the Korean firm launched the New Galaxy NFT.
This was done with the collaboration of Theta Labs. On its website, Samsung claims that holders of the New Galaxy NFT will be able to benefit from various advantages. These range from discounts to special offers.
To carry out this project, Samsung has not only partnered with Theta Labs. This agreement, which took the form of a memorandum of understanding, also concerns:
- Digital Plaza
- e-Cruise
- Shilla Duty Free
- Alllink
- Show Golf.
Originally intended to reward customers who pre-ordered the new Galaxy S22 and Galaxy Tab S8, the New Galaxy NFT will also be made available to those who pre-ordered the brand's new foldable phone which will be unveiled on August 10, 2022.
The Galaxy NFT Ecosystem, therefore, aims to provide offline benefits to these customers who hold NFTs in the virtual world. This is reminiscent of the new NFTs games which are based on Play-to-Earn.
This innovation from Samsung Electronics will certainly be the precursor to a major change in the smartphone sector.
What is the real impact of this partnership?
It is still difficult to measure the impact of the launch of the Galaxy ecosystem. The information provided by Samsung is quite vague. For its part, Theta Labs does not provide any details. However, it is important to note the involvement of the other partners.
NEW Galaxy NFTs will first need to be authenticated on one of the Show Golf, Shilla Duty Free, or e-Cruise platforms. This is what indicates their validity and ensures the authenticity of these NFTs.
Apart from Samsung, several other electronics giants have launched NFTs in recent months.
Should we expect a gold rush from smartphone manufacturers?
Samsung is not the first to launch NFTs. Sony already launched a little earlier this year. This was also done in partnership with Theta Labs. Huawei has launched its own blockchain in China (Petal Chain). Although all these big names have launched into NFTs, Apple does not seem to make up its mind.
The community is divided on this, but at the moment there is nothing to say whether or not the Apple brand will launch into NFTs. Samsung's great rival is not the only one to ride the wave of cryptocurrencies and NFTs. The company Solana Labs, the parent company of the eponymous crypto has released a smartphone.
The latter is dedicated to cryptocurrency and NFTs. After smart TVs, Samsung is extending NFTs to smartphones. This could result in a meteoric rise in the Korean company's stock.
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