Samsung has partnered with Theta Network to give commemorative NFTs to consumers in South Korea who pre-order the new Galaxy S22.
People who pre-ordered either the Galaxy S22 smartphone or the Samsung Tablet S8 will receive commemorative non-fungible tokens (NFTs) thanks to a partnership with crypto project Theta Labs.
According to Mitch Liu, CEO and co-founder of Theta Labs, the NFTs come with “ongoing membership advantages and privileges.” However, a Theta spokeswoman was unable to provide Decrypt with any additional information about the perks.
Theta Labs is the company behind the Theta Network blockchain project as well as THETA.tv, a crypto-native video streaming service. Theta Labs is promoting its network in the esports and video streaming niches, and the native THETA token incentivizes activity on its platforms.
According to CoinMarketCap, the token is currently trading at $3.56, down more than 5% in the last 24 hours.
Users are anticipated to flock to Theta’s NFT marketplace, ThetaDrop, as a result of the new NFT drop with Samsung. Customers who pre-ordered Samsung’s Galaxy S22 or Tablet S8 can get their NFTs by enrolling with ThetaDrop and using a unique code created by their “Samsung Members” app.
Pre-orders began on February 9 and the devices will be available for purchase on February 25.
Samsung in the crypto space
This isn’t Samsung’s first foray into crypto, nor is it its first collaboration with the Theta Network.
In 2019, Samsung NEXT, the South Korean firm’s venture arm, made an investment in Theta Labs as part of its focus on new technologies such as artificial intelligence, blockchain, fintech, and more.
The company has also entered the NFT market, introducing support for non-fungible tokens to their broadcast schedule for 2022. Users will be able to explore, acquire, and trade “digital artwork” through its MICRO LED, Neo QLED, and The Frame TV lines, according to a press release accompanying the announcement.
