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Samsung Partners with Theta Labs for Future Galaxy NFT Ecosystem

10 August 2022 12:54, UTC
Anna Martynova

Samsung Electronics has signed an MoU with partners including Theta Labs to operate the NFT ecosystem for its new line of Galaxy mobile phones. The firm said the NFT ecosystem would promote “consumer experience innovation” by connecting the virtual world with benefits in the real world.

Samsung plans to use NFT as a way to provide "practical benefits" such as customer discounts and an authentication tool – details will be revealed at the phone's unveiling scheduled for August 10. Theta Labs' role is to release the Galaxy NFT, while NFC payment solutions company Allink provides authentication services.

According to Theta Networks co-founder Mitch LIU, 100,000 NFT holders will be able to use their Theta NFTs online and offline with ThetaPass technology. The company plans to expand retail and ecommerce store coverage and utility to broaden benefits to Samsung NFT holders. ThetaPass refers to the NFT ticketing system for accessing virtual events, first mentioned in January.

Image: winnquick