Digital artworks linked to non-fungible tokens (NFTs) could amaze the eyes of millions of new viewers thanks to Samsung. The company has just announced to invest millions of dollars to enter the metaverse and the world of NFTs.
NFTs in your living room with Samsung TVs
On December 3, 2021, Samsung reveals on its website its new line of smart TVs, which will natively integrate an NFT platform. Owners of Micro LED, Neo QLED and The Frame TVs, will be able to see images related to NFTs, without the device deteriorating the quality of the works.
Samsung wants to launch in 2022, the first NFT market explorer and aggregator for smart TVs. This will allow viewers to use their TVs to “discover, buy and trade digital art.”
NFT sales related to digital art and collectibles will account for 91% of total industry sales in 2021.
NFTs and Metavers: Samsung and the next NFT boom
Will NFTs do (even) better than 2021 this year? The sector could see another boom with increased interest in metavers by crypto companies and those initially operating outside the cryptosphere. Arcane Research, for example, predicts that a growing number of traditional gaming companies are expected to embrace NFTs in 2022.
Samsung participated in 2021 via its venture capital arm, Samsung Next, in a $93 million Series B funding round for metaverse The Sandbox.
Samsung Next also participated in late 2021, in the Series A funding round for gaming platform Ready Player Me. The $13 million raised will be used by the platform to fund its ambitions for avatar interoperability across different metavers.
Beyond the NFTs sphere, Samsung has always been particularly active in the cryptocurrency space in general. By 2021, the South Korean giant had integrated Ledger wallets into its Galaxy devices and made agreements with the Elrond project for the storage of EGLD tokens within its devices.
Samsung dives in its own way – in ultra high definition – in NFTs. Each company is entering the race in its own way – at high speed for Ferrari and its exclusive digital content – by bringing its distinctive skills to the sector.