Samsung Inks Deal with Nifty Gateway, Allowing Trading NFTs with Smart TVs

For more innovations, South Korean electronics giant Samsung has teamed up with Nifty Gateway to develop a new line of smart TVs to enable non-fungible tokens (NFTs) to be bought, sold, and held. - 2022-03-31T174126.599.jpg

Nifty Gateway, a leading marketplace for NFTs owned by Gemini crypto exchange, will join Samsung’s NFT platform on its 2022 Neo QLED premium and QLED TVs. 

Per the report:

“This partnership enables users to browse, display and interact with NFTs on their Samsung TVs. It provides them with access to more than 6,000 pieces of digital art and collectibles from artists like Daniel Arsham, Pak and more.”

Duncan Cock Foster, the co-founder of Nifty Gateway, welcomed the cooperation and noted:

“The objective of Nifty Gateway is to bring NFTs to a billion people by empowering creators and streamlining the process by which customers buy, sell, produce, and hold NFTs. We are devoted to making NFTs more accessible and purchasing them more convenient than before.”

The ground-breaking partnership will entail using Nifty Gateway’s Omnibus wallet when buying NFTs using cryptocurrency and credit or debit cards.

Samsung has been gearing up towards the crypto space, given that it disclosed plans to develop top-notch metaverse devices to foster accessibility earlier this month. This decision was reached because the company saw the metaverse and robots as new growth engines.

As the crypto space continues to gain steam, more digital giants are jumping on this bandwagon to create seamless devices. For instance, South Korean tech giant LG Electronics recently revealed plans to add blockchain, cryptocurrency, and medical devices as new sectors in its corporate charter, Blockchain.News reported. 

Image source: Shutterstock


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$400M funding round to help Gemini build in the decentralized Metaverse

The Winklevoss twins’ crypto exchange Gemini will allocate capital from its $400 million funding round into building a “Gemini experience in different Metaverses.”

Gemini announced that it had closed a $400 million equity growth funding round at a valuation of $7.1 billion on Nov. 18, marking the first time the firm had sought outside financing. Morgan Creek Digital led the round with participation from 10T, ParaFi, Newflow Partners, and Marcy Venture Partners to name a few.

Notably, the Commonwealth Bank of Australia (CBA) — which also partnered with Gemini to launch the first crypto trading services offered by a big four Australian bank — also backed the round.

“With this round of financing, Gemini will continue to bring simple, innovative, and secure products to market, and advance its geographic expansion,” the announcement read.

During an interview with Forbes published on Nov. 18, Tyler and Cameron Winklevoss outlined their plans to expand Gemini’s reach into the Metaverse.

Tyler noted that instead of building numerous “branches in meatspace,” — a reference to the popular meme-based description of physical reality — the company is aiming to spread itself across multiple Metaverses:

“We’re gonna build a Gemini experience in different Metaverses, where you can go into Gemini and trade, but it would be immersive instead of on your phone.”

According to Forbes, the twins will retain 75% of ownership over Gemini, with Morgan Creek’s general partner Sachin Jaitly joining the board of directors as part of his firm’s $75 million investment into the crypto platform.

The move will once again bring the duo into competition with Mark Zuckerberg, who they famously battled in court over the ownership of Facebook more than a decade ago. The Twins sued Zuckerberg in 2004, alleging that he stole their intellectual property to create Facebook, and went on to settle in court in 2011 for $65 million.

Related: VR Metaverse comes closer to reality as Meta previews haptic gloves

Cameron emphasized to Forbes that unlike the centralized roadmap for the Metaverse from firms “like Facebook or Fortnite,” Gemini is aiming for the decentralized route due to the belief that it offers greater upside for the user:

“But there is another path, which is the decentralized Metaverse and that’s the Metaverse where we believe there’s greater choice, independence and opportunity, and there is technology that protects the rights and dignity of individuals.”

“Decentralization is a spectrum,” Cameron added, noting that “we want to continue to move down the spectrum toward empowerment.”

The twins snapped up plots of land in The Sandbox Metaverse at the start of April, with Tyler noting at the time that the plan was to set up Gemini’s crypto exchange and NFT marketplace Nifty Gateway in the play-to-earn focused virtual world.