Samsung is launching its newest smartphone model, the Galaxy S22. The South Korean tech and electronics giant is also giving away commemorative non-fungible tokens (NFTs) with its upcoming release. The Samsung Galaxy NFTs had become possible with Theta Labs.
Here’s a unique way to maximize leverage publicity on the introduction of your product: Give away a free NFT.
And that’s what Samsung has done, at least for its customers in South Korea. In collaboration with crypto project Theta Labs, Samsung will provide commemorative NFTs to people who pre-ordered the Galaxy S22 or the new Tablet S8.
“Our NFT collaboration with Samsung Electronics exemplifies global adoption of Theta’s blockchain technology and marks an important milestone in the development of our core blockchain technology,” Mitch Liu said in a press release.
Mitch Liu, CEO and co-founder of Theta Labs, said that the NFTs includes membership benefits and privileges. But, a Theta spokesperson could not share details with Decrypt regarding the stated benefits.
Samsung Galaxy NFTs and ThetaDrop
Theta Labs is the team behind the blockchain venture Theta Network a crypto-native video streaming service called THETA.tv. The platform focuses its network within the esports and video streaming niche and incentivizes activity through the native THETA token. Currently, the token is trading at $3.56, according to CoinMarketCap.
The latest NFT offering with Samsung may entice users to join Theta’s NFT marketplace called ThetaDrop. Customers who have pre-ordered either Samsung’s Galaxy S22 or the new Tablet S8 can claim their NFTs by registering with ThetaDrop. Registration for pre-orders required a unique code generated through their “Samsung Members” app.
The Theta protocol enables ThetaDrop, which is a native blockchain securely built for media and entertainment. The cost of minting NFTs and gas fees are lower, while transaction time is around 100 times faster than on Ethereum.
More importantly, the Theta protocol is built on a proof-of-stake (POS) model. In that way, it only uses a fraction of the electricity and resources, making it greener than other alternatives.
Samsung and cryptocurrency
This isn’t Samsung’s first appearance into the world of cryptocurrency, nor its first collaboration with the Theta Network.
Samsung NEXT, the South Korean electronics firm’s venture arm, has invested in Theta Labs in 2019. Samsung NEXT focuses and invests broadly in artificial intelligence, blockchain, fintech, healthtech, mediatech, and infrastructure.
In addition, the company integrated a Samsung Blockchain Keystore and Wallet into its Galaxy smartphones in 2019. It allows users to store their private crypto keys in Knox. It’s a secure area on the device isolated from the primary operating system. Users can access this by using a PIN or biometric authentication. Succeeding Galaxy smartphones, including the S10 and S20 models, have supported the technology, while Samsung added hardware wallets in 2021.
Samsung has entered the NFT market, too, by adding support for NFTs to its 2022 television lineup. A press release showed how users would be able to discover, purchase, and trade “digital artwork” through its MICRO LED, Neo QLED, and The Frame TV ranges.
Samsung Galaxy NFTs pre-order
Pre-orders have already opened on February 9, and the devices had officially launched on February 25.
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