The World’s First Smart TV NFT Platform Is Being Developed By Nifty Gateway And Samsung

Samsung, which has always been on the cutting edge of technology, has announced the creation of the world’s first-ever Smart TV NFT Platform in collaboration with Nifty Gateway, a Gemini-owned NFT marketplace. The NFT marketplace will be integrated into Samsung’s new line of smart TVs.

Users will be able to enjoy Web 3.0 due to the connection, as Nifty Gateway is already part of the Korean company’s premium TV portfolio for 2022.

Details Of The Collaboration

On March 30th, Samsung announced a partnership with Nifty Gateway, a digital art auction site. The platform includes a variety of NFTs and digital artworks, with the cooperation concentrating on creating the first Smart TV NFT platform. Samsung had hinted at the idea before, saying that its Smart TVs will enable NFTs sometime in 2022.

According to an official press release, Samsung’s smart platform has already integrated support for Nifty Gateway in all of its new models in the 2022 NEO QLED and QLED range. As a result, Samsung’s TV portfolio now includes an NFT platform, making it the first TV manufacturer to do so.

The NFT Space Gets a Shot in the Arm

The relationship with Samsung might be a big boost to the expansion of the NFT field, as the integration with Samsung goods is expected to open NFTs up to a broad market, thus speeding up the development and acceptance of the technology. Samsung has been a technology pioneer for over 15 years, competing with some of the world’s greatest corporations and producing a wide range of products, including high-end televisions, computers, phones, and more.

The business claims to have sold more than 60 million smart TVs worldwide, and the cooperation with Nifty Gateway might raise NFT usage significantly. According to Duncan Cook, co-founder of Nifty Gateway, the whole Nifty Gateway team was ecstatic to be working with a firm like Samsung, enabling them to reach billions of people worldwide and encourage the adoption of NFTs.

OpenSea is a loser

Samsung’s cooperation with Nifty Gateway may have perplexed some industry observers, given that OpenSea is the market leader in NFT marketplaces and sales. But on the other hand, Nifty Gateway provides a wider range of services than OpenSea.

OpenSea, on the other hand, supports over 150 payment tokens, whereas Nifty Gateway only accepts fiat payments and tokens listed on Gemini.

Nifty Gateway also provides NFT escrow services, giving it an edge over OpenSea by letting customers keep their NFTs in a safe Nifty Gateway Omnibus Wallet. This is a huge benefit and one that NFT collectors appreciate. However, one reason Samsung could have selected Nifty Gateway over OpenSea is the latter’s wider variety of services and OpenSea’s recent hack and lawsuit.

Samsung’s Crypto-and-Metaverse Experiment

Samsung has been experimenting with NFTs, crypto, and the metaverse for a long time to expand its digital footprint. The business announced in August 2021 that it will join the Bank of Korea’s endeavor to develop a trial platform for their Central Bank Digital Currency. Samsung joined the experiment to see if CBDCs will work on its Galaxy handsets.

While revealing the newest features for its next flagship smartphone line, Samsung also showcased a crypto-compatible wallet, saying that the Galaxy S22 series will have crypto capabilities. Unfortunately, the actual incident took place in the metaverse.

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