Samsung is partnering with Theta Labs for the upcoming Galaxy NFT ecosystem
Samsung Electronics has signed a memorandum of understanding (MOU) with partners, including Theta Labs, to operate an NFT ecosystem for its new line of Galaxy mobile phones.
“Samsung Electronics is advancing consumer experience innovation that connects non-fungible tokens (NFTs) in the online virtual world to offline real-world benefits.“
The firm said the NFT ecosystem would foster “consumer experience innovation” by connecting the virtual world with real-world benefits.
NFTs for better customer experience
Samsung intends the NFTs to serve as a way to deliver “convenient benefits” such as customer discounts and an authentication tool – details will be confirmed at a phone unveiling event scheduled for August 10.
According to CNET, Samsung will launch the Galaxy Fold 4 at the event, which is rumored to have an improved hinge design, slimmer construction and a Snapdragon 8 Gen 1 Plus with 4-nanometer process technology.
Taken together with the list of partners under the MOU, the Korean press release suggested a personal/retail component of the application process. It mentioned a list of retail partners, including the company’s in-house Digital Plaza stores.
“Samsung Electronics will continue to innovate the customer experience that connects the virtual world and the real world using NFT with various partners.“
Theta Labs’ role is to issue Galaxy NFTs, while NFC payment solutions firm Allink provides authentication services.
In an English-language press release shared with CryptoSlate, Theta Networks co-founder Mitch Liu said Theta is “launching the world’s largest offline NFT tool campaign ever.”
“More than 100,000 NFT holders can use Theta NFT online and offline through ThetaPass technology. This is just the beginning and we will continue to expand retail and online store coverage and utility to extend the benefits for Samsung NFT holders.”
ThetaPass refers to a NFT ticketing system to access virtual events, first mentioned in January.
Samsung had previously collaborated with Theta Networks
Theta Networks and Samsung previously collaborated on a digital collectibles NFT project in February to celebrate the launch of the Galaxy S22 and S8 tablets.
Pre-order buyers of the above models in Korea can claim free NFTs by registering on Theta Network’s NFT marketplace – ThetaDrop. The process involved using a unique code received via verification through the “Samsung Members” app.
At the time, Liu said the collaboration “exemplifies global adoption of Theta’s blockchain technology.” And that he looked forward to building a long-term community through this opportunity.
