Samsung Embraces NFTs: Launching NFT Aggregation Platform

  • January 4, 2022
  • 107 Views

Although it’s now 2022, it seems to be too early for the NFT market to max out.

That said, it’s no surprise that many tech giants are getting onboard with NFTs, consistently introducing their NFT-enabled product lines.

Samsung is the next name that integrated NFTs into its operations.

Samsung Launches NFT Aggregation Platform

During the Consumer Electronics Show 2022 event, Samsung revealed its plans to launch a new NFT Aggregation Platform designed for its smart TVs.

On January 3, the tech giant detailed a number of updates regarding NFT’s integration into its new line of smart TVs.

The NFT aggregation platform will include a number of features that will allow customers to browse their digital collections. In addition, users can buy NFTs directly from their televisions.

The platform will be available on Samsung’s MicroLed, Neo QLED, and The Frame models.

The platform displays NFTs from various marketplaces, allowing users to preview works and see other relevant details, such as who created the work, as well as relevant blockchain metadata.

Those who already own NFT can use the platform to display their collection. Samsung claims that its “Smart Calibration” technology can automatically adjust the TV’s settings to match the author’s original specifications, resulting in the most realistic picture possible.

Speaking on the upcoming launch, Simon Sung, Executive Vice President and Head of the Sales & Marketing Team of Samsung’s Visual Display Business, stated:

“The role of the screen has changed dramatically in recent years with advancements in technology and how entertainment is distributed. With our new lineup of products, we are providing customers an entirely immersive video and audio experience that is customizable to their needs. Whether you are a movie buff, TV lover, gamer or even an art enthusiast, Samsung has leading-edge offerings that can enhance any room.”

Samsung and NFTs

Sky Mavis, the company behind the popular game Axie Infinity, announced in October 2021 that it had successfully raised $152 million in a Series B funding round, with Samsung Next being one of the most noticeable partners.

One of the company’s first forays into the NFT space is the Samsung Next investment fund in Sky Mavis. At the time of the announcement, Samsung’s move sparked debate because it occurred in the context of blockchain games being banned in Korea.

Kim Jeong-soo, a Myongji University industrial and technical management expert, believed Samsung was motivated by the high return on investment.

Axie Infinity is clearly the most popular blockchain game. Axie Infinity also laid the groundwork for the popularity of blockchain and NFTs.

NFTs are the main topic of controversy among gamers and developers. Some see P2E games as a novel way to generate revenue, while others see them as risky and unnecessary investments.

NFT Based Games are Here

When publishers like Ubisoft and GSC Game World announced their plans to use NFT in upcoming games, they received a massive backlash. Several governments are now taking steps to improve regulation of NFT game practice.

The Game Regulatory Commission of South Korea recently requested that Google Play and Apple’s App Store block any P2E titles that require the purchase of NFT before playing the game.

The commission has also moved to remove an existing series of monetization games that will appear by refusing to provide an age rating, which is required on Korea’s digital app stores.

Despite being a highly developed country in the field of information technology, particularly in the game industry, Korea has incredibly strict laws governing this type of entertainment.

According to experts, Samsung’s move violated Korea’s ban on publishing blockchain games.

In fact, South Korea is open to NFTs and blockchain in general. Because the reward amount is illegal, the ban specifically targets Play-to-Earn (P2E) NFT gaming models.

Some experts believe that the South Korean government will loosen up restrictions in the future.

Starting with an NFT investment fund, Samsung is now fully embracing NFTs with the upcoming launch of an NFT aggregation platform. It’s undoubtedly a move worth the wait.

The post Samsung Embraces NFTs: Launching NFT Aggregation Platform appeared first on Blockonomi.

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