For users who pre-ordered in South Korea, Samsung’s flagship handsets will be accompanied by a commemorative NFT from Theta Network.
Here’s one method to make the most of the media surrounding your cornerstone product’s launch: Add an NFT to the mix.
And that’s exactly what Samsung has done, at least for South Korean consumers. People who pre-ordered either the Galaxy S22 smartphone or the Samsung Tablet S8 will receive commemorative non-fungible tokens (NFTs) thanks to a partnership with crypto project Theta Labs.
According to Mitch Liu, CEO and co-founder of Theta Labs, the NFTs come with “ongoing membership advantages and privileges.” However, a Theta spokeswoman was unable to provide with any additional information about the perks.
Theta Labs is the company behind the Theta Network blockchain project as well as THETA.tv, a crypto-native video streaming service. Theta Labs is promoting its network in the esports and video streaming niches, and the native THETA token incentivizes activity on its platforms.
According to CoinMarketCap, the token is currently trading at $3.56, down more than 5% in the last 24 hours.
Users are anticipated to flock to Theta’s NFT marketplace, ThetaDrop, as a result of the new NFT drop with Samsung.
Customers who pre-ordered Samsung’s Galaxy S22 or Tablet S8 can get their NFTs by enrolling with ThetaDrop and using a unique code created by their “Samsung Members” app.
Pre-orders began on February 9 and the devices will be available for purchase on February 25.
This isn’t Samsung’s first foray into crypto, nor is it its first collaboration with the Theta Network.
Samsung and cryptocurrency
In 2019, Samsung NEXT, the South Korean firm’s venture arm, made an investment in Theta Labs as part of its focus on new technologies such as artificial intelligence, blockchain, fintech, and more.
In 2019, Samsung introduced a Samsung Blockchain Keystore and Wallet to its Galaxy smartphones, allowing users to store their cryptocurrency private keys in Knox, a secure enclave on the device that is isolated from the main operating system and can only be accessed with a PIN or biometric authentication. Samsung has supported the technology on subsequent Galaxy devices, including the S10 and S20 models, and introduced support for hardware wallets in 2021.
The company has also entered the NFT market, introducing support for non-fungible tokens to their broadcast schedule for 2022. Users will be able to explore, acquire, and trade “digital artwork” through its MICRO LED, Neo QLED, and The Frame TV lines, according to a press release accompanying the announcement.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
