Samsung jumps on NFT bandwagon with smart TV rollout
Samsung is taking the plunge into the crypto space with its new line of smart TVs which will let users buy, trade and display NFTs.
Samsung’s new MICRO LED, Neo QLED, and The Frame TV models, which are set to be released later this year, will feature a new platform to support the purchase and trading of NFTs the company announced today. NFT owners who have forked out top dollar for fashionable digital artworks and videos will now be able to proudly display purchases on their TV screens.
“With demand for NFTs on the rise, the need for a solution to today’s fragmented viewing and purchasing landscape has never been greater,” a spokesperson for Samsung said in comments to the Verge.
“In 2022, Samsung is introducing the world’s first TV screen-based NFT explorer and marketplace aggregator, a groundbreaking platform that lets you browse, purchase, and display your favourite art — all in one place.”
The news comes amid an explosion of interest in the NFT market. In 2021 ‘NFT’ beat ‘pingdemic’ to be named word of the year by Collins Dictionary after the sale of Beeple’s digital artwork for $69m catapulted non-fungible tokens into the mainstream.
Samsung has faced a difficult year after its boss pleaded guilty to substance abuse in a South Korean court shortly after being released from prison on parole following a bribery conviction.
Share price is down 14.44 per cent over the past year.
Read more: Legal woes continue for Samsung as boss pleads guilty to sedative use