Samsung has always been at the forefront of innovation and has announced that it is launching the world’s first-ever Smart TV NFT Platform in partnership with Nifty Gateway, the NFT marketplace owned by Gemini. Samsung will be integrating the NFT marketplace into its new line of smart TVs.
The integration would make it possible for users to enjoy Web 3.0, with Nifty Gateway already integrated into the Korean Company’s 2022 premium TV lineup.
Details Of The Partnership
Samsung announced its partnership with Nifty Gateway, a digital art auction platform, on the 30th of March. The platform offers an array of NFTs and digital artworks, with the partnership focusing on developing the world’s first Smart TV NFT platform. The move was teased earlier by Samsung, who had announced that its Smart TVs would support NFTs sometime in 2022.
In an official press release, Samsung stated that its intuitive platform has already added support for Nifty Gateway in all of its new models in the 2022 NEO QLED and QLED range. This makes Samsung’s TV lineup and Samsung the first TV maker that has integrated an NFT platform into its range of products.
Nifty Gateway announced a few details regarding the partnership, stating,
“Leveraging Samsung’s and Nifty Gateway’s technology, customers can seamlessly browse, display, and interact with NFTs from the comfort of their couch. In addition, customers will have access to more than 6,000 art pieces from emerging and top artists, including Beeple, Daniel Arsham, Pak, and more.”
A Shot In The Arm For The NFT Space
The partnership with Samsung could be a huge boost to the growth of the NFT space, with the integration with Samsung products set to open NFTs to a huge market which could see an acceleration in the development and adoption of the technology. Samsung has been a leader in the tech space for over 15 years, competing with some of the largest companies in the world and manufacturing a host of products ranging from high-end TVs, laptops, phones, and more.
The company claims to have sold over 60 million smart TVs globally, and the partnership with Nifty Gateway could signal a huge boost in NFT adoption. According to co-founder of Nifty Gateway, Duncan Cook, the entire team at Nifty Gateway was thrilled to be working with a company like Samsung and enable them to reach billions of people the world over and promote the adoption of NFTs.
“We are committed to making NFTs accessible and NFT purchasing more seamless than ever before.”
He further stated,
“With our mission in mind, we couldn’t be more excited to partner with Samsung to develop a groundbreaking NFT collecting experience. Their dedication to user experience and focus on the highest quality displays aligns perfectly with our vision to allow anyone, anywhere, to interact with their favorite creators.”
OpenSea Loses Out
Samsung’s partnership with Nifty Gateway may have left a few industry watchers scratching their heads, with OpenSea being considered the leader in NFT markets and NFT sales. However, Nifty Gateway offers a greater range of services compared to OpenSea.
However, OpenSea offers support for more than 150 payment tokens, while Nifty Gateway only supports fiat payments and tokens that are listed on Gemini.
Nifty Gateway also offers NFT escrow services, which gives it a significant advantage over OpenSea, allowing users to securely store their NFTs in a secure Nifty Gateway Omnibus Wallet. This is a significant advantage and one that NFT collectors find extremely useful. One reason why Samsung could have chosen Nifty Gateway over OpenSea would be because of the range of services provided by the latter and possibly because of OpenSea’s recent hack and lawsuit.
Samsung’s Foray Into Crypto And The Metaverse
Samsung has been exploring NFTs, crypto, and the metaverse for a considerable amount of time as it looks to expand its footprint in the digital space. In August of 2021, the company announced that it was joining the Bank of Korea and its project to create a pilot platform for their Central Bank Digital Currency. Samsung joined the project to test the viability of CBDCs on its Galaxy range of smartphones.
The firm has also revealed a crypto-compatible wallet while unveiling its latest features for its latest flagship smartphone line, announcing that the Galaxy S22 series would come with crypto functionality. The event itself was held in the metaverse.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.