Samsung ready to launch an NFT ecosystem for Galaxy
Samsung ready to launch an NFT ecosystem for Galaxy

Samsung ready to launch an NFT ecosystem for Galaxy

By Vincenzo Cacioppoli - 10 Aug 2022

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Korean electronics giant, Samsung Electronics, recently signed a memorandum of understanding (MOU) with six companies that will collaborate to build the Galaxy NFT ecosystem.

Samsung’s future NFT ecosystem

Samsung will partner with six companies to create its own NFT ecosystem

Samsung has signed a memorandum of understanding (MOU) with six companies, including Theta Labs, to build a new user ecosystem for its new Galaxy, which will have increasing interaction with the NFT world.

A post on the company website reads:

“Samsung Electronics is promoting consumer experience innovation that connects non-fungible tokens (NFTs) in the online virtual world to offline real benefits”.

The company said the NFT ecosystem will promote “consumer experience innovation” by connecting the virtual world with real-world benefits. Details will be announced at an event to introduce the new Galaxy Fold 4, scheduled for 10 August.

According to a report on the Korean-language news site News1, the six companies that have signed the MOU with the electronics giant would be AllLink, Digital Plaza, E-Cruise, Shilla Duty Free, Show Golf, and precisely Theta Labs. The latter is Samsung Electronics’ NFT minting partner while AllLink will be the authentication solution partner.

Samsung has been working on Web3 for some time, launching the Galaxy project, which is expected to enable unique virtual experiences for users of Galaxy products. As noted on the company’s website, on 27 July the Galaxy project was integrated with the Moonbeam platform, which integrates full compatibility with Ethereum smart contracts on the Polkadot network:

“Deploying on the Moonbeam platform is a huge milestone for Project Galaxy because it enables a new Web3 community experience for the Moonbeam and greater Polkadot ecosystems. This integration means that Moonbeam-based smart contracts and tokens can be used with the Project Galaxy platform”.

Theta Labs, the NFT minting partner

Theta Networks and Samsung had already collaborated on a digital collectibles project in February to celebrate the launch of the Galaxy S22 and S8 tablet. It is a sign that Samsung seems to be aiming ever more firmly toward the NFT ecosystem.

Theta Networks co-founder Mitch Liu explained that his company:

“is launching the world’s largest ever offline NFT utility campaign. more than 100,000 NFT holders can use their Theta NFT online and offline through ThetaPass technology. This is only the beginning, and we will continue expanding retail and ecommerce store coverage and utility to broaden benefits to Samsung NFT holders”.

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog., he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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