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Samsung reveals an NFT platform for smart TVs

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The forthcoming series of Samsung smart TVs will feature a built-in system where users can explore, purchase, and trade NFTs.

Samsung has announced a new smart TV series that includes an integrated non fungible token (NFT) platform. According to a Monday statement, Samsung's 2022 smart TVs, including the Micro LED, Neo QLED, and The Frame will include an NFT Platform app for "discovering, purchasing, and trading digital artwork."

“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 firm said.

The firm intends to launch the very first smart TV NFT explorer and marketplace aggregator in 2022.

Users will be able to explore and trade NFTs without leaving their seats thanks to the new platform.  Although it is uncertain which NFT platforms or markets will be considered for aggregation, Samsung has stated that its smart TVs will not interfere with picture quality, instead of maintaining the NFT creator's pre-set values.

In addition to incorporating NFTs into its products, the South Korean multinational corporation has been vigorously investing in NFT and metaverse ventures via its venture capital division, Samsung Next. The firm took part in a financing round for a metaverse gaming platform on Wednesday.

Other prominent companies, in addition to Samsung, have hopped on board the NFT trend. Coca-Cola entered the NFT sector for charity purposes in July 2021. Visa spent $150,000 for a "CryptoPunk" NFT about a month later.

Digital art collections and digital collectable NFT sales, on either side, dominated last year, accounting for 91% of total NFT sales. As sales increase, an increasing number of NFT and metaverse-based businesses are generating considerable sums of funds to finance their projects. Last year, blockchain gaming firms garnered over a billion dollars in financing.

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