Samsung customers will be able to buy and sell NFTs from their TVs soon

Samsung customers will be able to buy and sell NFTs from their TVs soon
  • The South Korean firm has tied up with one of the largest NFT platforms on the market.
  • Samsung TVs will get NFT art from well known digital artists like Beeple.
  • The NFT platform will be available on select Samsung televisions only.
At the Consumer Electronics Show (CES) in January, Samsung announced that its upcoming televisions will support non-fungible tokens (NFTs). Now, the company is staying true to its promise.

On March 30, the NFT platform Nifty Gateway announced that its platform is now integrated into some of Samsung’s TVs. Specifically, Nifty Gateway said that the company’s 2022 QLED and Neo QLED TVs will be able to use Nifty’s services. The company’s app is also available for Samsung’s The Frame and Micro LED televisions.

“With our mission in mind, we couldn't be more excited to partner with Samsung to develop a groundbreaking NFT collecting experience. Their dedication to user experience and focus on the highest quality displays aligns perfectly with our vision to allow anyone, anywhere, to interact with their favourite creators,” said Duncan Cock Foster, co-founder, Nifty Gateway.

According to Nifty Gateway, Samsung TVs will be able to show “verified digital art” from its platform, and will have custody technology and payment flexibility for NFTs. Which means that NFTs minted through Nifty Gateway will be viewable on Samsung’s TVs, while the platform’s “custody” option, which allows users to store their own NFTs on Nifty, will also be accessible through the South Korean manufacturer’s TVs. This is done through the Omnibus Wallet service that Nifty Gateway offers.

Further, the company said that customers will be able to buy NFTs from their TVs using debit and credit cards, along with cryptocurrency. Which suggests that Samsung’s TVs will support fiat-based payments, and won’t confine users to NFTs alone.

Nifty Gateway’s collection of NFTs includes some high profile names, like digital artists xCopy and Beeple. Customers will have access to more than 6000 art pieces from emerging and top artists, including Beeple, Daniel Arsham, Pak, and more,” the company said in its announcement.

While Nifty Gateway is amongst the top NFT platforms in the world today, the company trails behind the likes of OpenSea. According to Statista, the platform registered sales of $408.8 million between May and September 2021 alone.

However, Nifty Gateway is also said to be stricter with which creators are allowed to mint NFTs on its platforms, which might give some more exclusivity to NFT buyers using Samsung’s televisions.

HODL on — investing is only one way to make money in crypto
OPINION: How new age NBFCs are changing the small ticket business loan landscape in India