Samsung announces NFT platform for smart TVs

Published at: Jan. 3, 2022

South Korean tech giant Samsung revealed a new smart TV lineup with an integrated NFT platform. Samsung’s 2022 smart TVs such as Micro LED, Neo QLED and The Frame will have an NFT Platform app that can be used “for discovering, purchasing and trading digital artwork,” according to the announcement on Monday.

“With demand for NFTs on the rise, the need for a solution to today’s fragmented viewing and purchasing landscape has never been greater,” the company noted.

In 2022, the company aims to introduce the first smart TV NFT explorer and marketplace aggregator. The upcoming platform would enable viewers to browse and also trade NFTs without leaving the couch. While it's unclear exactly which NFT platforms or marketplaces would be included for aggregation, Samsung promised its smart TVs will not tamper with the image quality, keeping the NFT creator's preset values.

Other than integrating NFTs in their products, the South Korean multinational conglomerate has been actively investing in NFT and metaverse projects through its venture capital arm, Samsung Next. Last Wednesday, the firm participated in the investment round for a metaverse gaming platform.

Aside from Samsung, other big companies have also boarded the NFT train. Back in July 2021, Coca-Cola got into NFTs for charitable purposes. A month later, Visa purchased a CryptoPunk NFT for $150,000.

Related: NFTs to help brewers and farmers preserve UNESCO Belgian beer heritage

Meanwhile, digital art collections and digital collectibles NFT sales dominated last year comprising 91% of total NFT sales. As the sales rise, more and more NFT and metaverse-based companies are raising significant amounts to fund their projects. Blockchain gaming companies also raised more than a billion in investments last year.

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