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According to Statista, Samsung had 42.7 million LCD TV unit shipments in 2019. Its consumer spending between 2020 and 2022 sums up to $505 billion, marking a year-on-year growth of 2.8%.
Founded with the mission to make NFTs accessible to everyone, Nifty Gateway has partnered with Samsung Electronics to develop the first of its kind smart TV with NFT platforms. The Gemini-owned premier NFT marketplace announced the partnership with the leading producer of electronic devices, Samsung, on 30th March.
NFT creators now choose different ways to display their artwork beyond computer screens. There is an increased demand for more creativity and custom-like display dimensions. In agreement, Samsung and Nifty Gateway are taking “the road not taken.” In January, Samsung initially announced its entry into NFT technology, explaining that its 2022 Smart TVs will come with a new Smart Hub featuring an NFT Platform.
Samsung Products Featuring NFTs
The plan is to incorporate the NFT platform in the high-end TV products of Samsung in 2022. The product lines include Samsung’s QLED and Neo QLED TV sets. Users of The Frame and Micro LED TV sets can download a Nifty Gateway app to have access. Samsung users will access all artworks available on the Nifty Gateway platform, whether a Nifty Gateway original or those from other creators and marketplaces. The NFT platform began to amplify, exceeding its catalog drops to offer holders a vast option of NFT collections.
The partnership between Nifty Gateway and Samsung is original and translates to several steps ahead in the NFT world. The firms have worked together to develop a Television that optimizes the NFT trading experience. With a tap on the Samsung TV, a user gets into Nifty Gateway’s custodial wallet system. Users can purchase NFTs from the comfort of their personal space, using cryptocurrency, credit, or debit cards.
As the product will likely excite its users, the partners are overly excited to have collaborated to bring forth the masterpiece. Griffin Cock Foster said:
“Through our partnership with Samsung, one of the global leaders of electronics, together we will expose millions of mainstream users to NFTs.”
He agreed that the past year had seen a rise in NFT creation. Further, he posited that:
“This year, we hope to see continued growth from mainstream consumers by providing for the first time ever a seamless way to buy and collect NFTs. We couldn’t be more excited to have a partner such as Samsung align to our mission.”
Partnership Gains for Nifty Gateway and Samsung
Both firms boast a high index of users and consumers. According to Statista, Samsung had 42.7 million LCD TV unit shipments in 2019. Its consumer spending between 2020 and 2022 sums up to $505 billion, marking a year-on-year growth of 2.8%. On the other hand, Nifty Gateway has facilitated a high net worth of NFT trading volume. It had a $300 million hit in May and has recorded significant drops since then. For instance, crypto artist XCOPY sold $23 million worth of Ethereum NFTs in an open edition release in 10 minutes. In December, NFT creator Pak generated about $92 million worth of primary sales.
Samsung and its users benefit from Nifty Gateway’s authentic digital artworks, avant-garde custom technology, and payment flexibility. Nifty Gateway will likely see increased demand, resulting in high revenue and more popularity in the NFT world.
The revolution of NFTs involves creative artists, gaming firms, investors, and users who want all the “cool stuff.” Leveraging the Nifty Gateway- Samsung technology, users can now access over 6,000 digital artworks belonging to Beeple, Daniel Arsham, Micah Johnson, and others.