Samsung to Support NFTs in New TV Range

Key Takeaways

  • Electronics manufacturer Samsung has revealed that its latest TV product line will support NFTs.
  • The platform will let users browse, display, purchase, and trade NFT artworks directly from their TVs.
  • NFT creators will be able to preset the display settings for their artworks so that everyone can see them in the same, true-to-original condition.

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One of the largest electronics manufacturers globally, Samsung, revealed Monday that its new smart TVs would allow users to browse and purchase NFTs.

Samsung Introduces World’s First TV-Native NFT Platform

Samsung is adding NFT support to its 2022 television lineup.

According to a Monday press release from the South Korean electronics giant, the MICRO LED, Neo QLED, and The Frame smart TV models will come with a fully-fledged NFT platform for “discovering, purchasing and trading digital artwork.”

“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 company told The Verge.

A preview of Samsung’s upcoming NFT TV platform (Source: Samsung)

According to Samsung, the platform will let potential buyers preview NFT artworks before purchasing them and explore blockchain metadata to verify their provenance. Creators will also be able to calibrate and preset the display settings for their NFTs so that everyone can see them in the same, true-to-original form.

NFTs have skyrocketed in popularity over the last year, with trading volumes on the largest NFT marketplace, OpenSea, surpassing $15 billion in 2021. As they enter the mainstream, several major companies have started integrating NFTs into their business models. Perhaps most notably, in October, Facebook rebranded to Meta in a bid to help “bring the Metaverse to life.” The Metaverse is a new iteration of the Internet that many crypto enthusiasts consider in parallel with NFTs.

The instant messaging platform Discord and game publishing giant Ubisoft also announced NFT plans last year but faced severe backlash from their respective communities. As a result, Discord backtracked from its initial plans to integrate Ethereum and NFTs into its platform, while Ubisoft decided to move forward with its plans despite the criticisms it received.

Samsung’s foray into crypto appears to be more geared toward building infrastructure support for the nascent technology to appease its rapidly growing user base. In 2019, the firm introduced the Samsung Blockchain Wallet on its Galaxy phones. Now, it’s taking another major step toward adopting blockchain technology by integrating an NFT browser and marketplace aggregator into its premium TV product line.  

Disclosure: At the time of writing, the author of this piece held ETH and several other cryptocurrencies.

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Crypto Exchange FTX Inks International Rights Deal With NBA’s Golden State Warriors

One of the world’s leading crypto marketplaces continues its push to take the industry mainstream by teaming up with one of professional basketball’s top franchises.

In a new announcement, the San Francisco-based Golden State Warriors say they have joined forces with FTX US as the team’s official cryptocurrency platform and distributor of non-fungible tokens (NFTs).

This is also the first time the Warriors have signed on with an international rights partner. Team president and chief operating officer Brandon Schneider says of the deal,

“Cryptocurrency has a well-established worldwide community and is going to continue to be a major part of the sports, media and entertainment industries.

In our conversations with FTX, we quickly realized our joint desire to innovate around cryptocurrency integration and adoption, including the role NFTs play in global fan engagement.”

Earlier this year, the six-time NBA champions became the first team in sports to release an NFT collection.

FTX US president Brett Harrison says it’s important for fans to be able to purchase collectibles on a trusted platform.

“The FTX US NFT platform will provide a leading, safe and secure venue for the Warriors international fan base to access exclusive collectibles from the franchise.”

The agreement follows on the heels of FTX launching an Ethereum-based NFT marketplace at the start of December.

Back in October, it was revealed that FTX had purchased commercial airtime during the upcoming NFL Super Bowl being played on February 13th, 2022.

CEO Sam Bankman-Fried spoke about FTX’s desire to bring crypto to the masses, saying,

“Our message throughout this year has been that crypto is safe, accessible and ready for the mainstream.

There is no bigger, more mainstream event to share a message like that than the Super Bowl.”

At time of writing the FTX Token (FTT) is up 2% to $39.41.

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