Samsung announces NFT platform for smart TVs

Samsung has unveiled a new smart TV series that has an integrated nonfungible token (NFT) platform. According to a press release issued on Monday, Samsung’s 2022 smart TVs, including the Micro LED, Neo QLED, and The Frame, will include an NFT Platform software that can be used “for discovering, purchasing, and trading digital artwork.”

“With the growing popularity of NFTs, the need for a solution to today’s fragmented watching and purchase landscape has never been higher,” according to the business.

The business intends to launch the first smart TV NFT explorer and marketplace aggregator in 2022. Viewers will be able to browse and trade NFTs without ever leaving their couch thanks to the future site. While it’s unknown whether NFT platforms or markets will be included in the aggregation, Samsung has stated that its smart TVs would maintain the image quality set by the NFT developer.

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Apart from incorporating NFTs into its products, Samsung Next, the South Korean multinational conglomerate’s venture capital arm, has been aggressively investing in NFT and metaverse initiatives. The firm took part in an investment round for a metaverse gaming platform on Wednesday.

Aside from Samsung, several major corporations have jumped onto the NFT bandwagon. Coca-Cola entered the NFT market for charity purposes in July 2021. Visa paid $150,000 for a “CryptoPunk” NFT a month later.

Digital art collections and digital collectible NFT sales, on the other hand, dominated last year, accounting for 91% of total NFT sales. As revenues increase, a growing number of NFT and metaverse-based businesses are soliciting considerable sums of money to fund their projects. Last year, blockchain gaming businesses raised over a billion dollars in funding.