Samsung, the South Korean conglomerate, has dived into Non-fungible Tokens through its next-gen smart TVs. Acknowledging the capabilities of the NFTs marketplace, the company announced on Tuesday that it would incorporate NFTs in its new smart TV lineup. The move is expected to make digital art better accessible for smart TV users.
With the project, Samsung will enable its smart TV users to buy and sell NFTs with a new platform integrated into the smart TV system. According to the announcement, this platform will be developed and made available on its Micro LED, The Frame, and Neo QLED select smart TV models.
In an interview with the media, Samsung officials said, “With demand for NFTs on the rise, the need for a solution to today’s fragmented viewing and purchasing landscape has never been greater.”
The company officials further shed more light on the new NFT-SmartTV project. “In 2022, Samsung is introducing the world’s first TV screen-based NFT explorer and marketplace aggregator, a groundbreaking platform that lets you browse, purchase, and display your favorite art — all in one place,” the officials added.
NFT is a unique and non-interchangeable digital unit that represents artwork, sports cards, or other collectibles. The digital token emerged as a key investment article in mid-2021 when the world was bouncing back from the pandemic. It attracted major investors from Hollywood, where the craze began.
The South Korean tech giant has previously invested in projects related to NFTs. Samsung Next, the venture capital subsidiary of Samsung, recently invested in several startups, including Axie Infinity, Forte, SupeRare, The Sandbox, and Dapper Labs.
Samsung has not officially given the launch date yet. However, the company may introduce the platform by the end of 2022. Along with NFTs, the new smart TV series will also have other salient features such as cloud-based gaming services and video chat options.
Although cloud gaming is not a new feature for gaming enthusiasts, Samsung’s gaming integration along with the game streaming platform will be something that would attract gamers to the product. The Samsung Gaming Hub is the company’s game streaming platform powered by Tizen.
Also, Samsung realized the emerging demand for ‘watch together’ service amid the lockdowns when families and friends living apart wished to watch entertainment content together. Therefore, the new feature by Samsung will allow its users to video chat and watch their TV shows and movies on the TV at the same time.