Samsung announces NFT platform for smart TVs

Upcoming Samsung smart TVs will have a built-in platform where users can browse, buy and sell NFTs.

South Korean tech giant Samsung revealed a new smart TV lineup with an integrated nonfungible token (NFT) platform. Samsung’s 2022 smart TVs such as Micro LED, Neo QLED and The Frame will have an NFT Platform app that can be used “for discovering, purchasing and trading digital artwork,” according to an announcement on Monday.

“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 company noted.

In 2022, the company aims to introduce the first smart TV NFT explorer and marketplace aggregator. The upcoming platform will enable viewers to browse and also trade NFTs without leaving the couch. While it’s unclear exactly which NFT platforms or marketplaces will be included for aggregation, Samsung promised its smart TVs will not tamper with the image quality, keeping the NFT creator’s pre-set values.

Other than integrating NFTs in its products, the South Korean multinational conglomerate has been actively investing in NFT and metaverse projects through its venture capital arm, Samsung Next. On Wednesday, the firm participated in an investment round for a metaverse gaming platform.

Aside from Samsung, other big companies have also boarded the NFT train. Back in July 2021, Coca-Cola got into NFTs for charitable purposes. A month later, Visa purchased a “CryptoPunk” NFT for $150,000.

Related: NFTs to help brewers and farmers preserve UNESCO Belgian beer heritage

Meanwhile, digital art collections and digital collectible NFT sales dominated last year, comprising 91% of total NFT sales. As the sales rise, more and more NFT- and metaverse-based companies are raising significant amounts to fund their projects. Blockchain gaming companies also raised more than a billion dollars in investments last year.