Dimapur, Jan. 3 (EMN): Amid the ever-growing craze for NFTs, South Korean tech giant Samsung on Monday announced its latest 'groundbreaking' feature for its 2022 lineup of smart TVs: NFT support.
Non-fungible token or NFT is a digital asset stored on a blockchain with each token given a unique identification code and metadata. NFTs can represent any digital or real-world assets including art, real-estate, identity and much more. Users can trade and buy these NFTs with cryptocurrencies on platforms like Opensea and Rarible among others.
According to a report from The Block’s "2022 Digital Asset Outlook," $8.8 billion worth of NFT volume was traded in 2021 alone. "From Beeple’s NFT selling for $69 million to celebrities donning CryptoPunks and Bored Apes to PayPal buying a CryptoPunk to large art auction houses like Christie’s and Sotheby’s embracing NFTs, multitudes of events in 2021 brought NFTs into the zeitgeist," the report read.
Samsung Electronics Unveils Its 2022 MICRO LED, Neo QLED and Lifestyle TVs, With Next-Generation Picture Quality and Range of Cutting-Edge Personalization Optionshttps://t.co/RIRFxFpdjY
— Samsung Electronics (@Samsung) January 3, 2022
Samsung wants to tap into the NFT market and bring adoption of NFTs to the masses through its smart TVs. The tech giant revealed on Monday that users will be able to browse and buy NFTs directly from their Samsung smart TVs. The new feature will be available on its 2022 lineup of TVs including the MicroLed, Neo QLED and The Frame models.
"With demand for NFTs on the rise, the need for a solution to today's fragmented viewing and purchasing landscape has never been greater," Samsung said in a press release.
"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 company added.
According to Samsung, its NFT platform will let creators "share their art with the world" and let potential buyers to preview an NFT before purchasing it and also learn about an NFT’s history and blockchain metadata.
Users who already own NFTs can also use the platform to showcase their collection and Samsung says that its "Smart Calibration" technology can automatically adjust the TV’s settings to render the artwork in its original form.