Samsung to Drop NFTs on Theta Network

Summary:
• Samsung has announced plans to drop NFTs through the Theta Network to commemorate its new flagship devices. We tell you what it’s all about.

Video and entertainment blockchain Theta Network has teamed up with global electronics giant Samsung Electronics to release commemorative NFTs. Samsung will drop the NFTs to celebrate its latest range of devices, the Galaxy S22 and Tablet S8 models. The NFTs will exclusively be available for customers who preordered the two models in South Korea. 

Samsung’s decision to use the Theta Network unsurprising. That is because Theta has cut a niche as a specialized blockchain for video, media and entertainment. Furthermore, Samsung considered Theta blockchain’s high transaction speed, which is about 100x faster than Ethereum. Also, users of the blockchain enjoy low transaction fees. Also, because it uses the proof-of-stake (POS) model, the Theta protocol is more eco-friendly. Essentially, this translates to less energy consumption than other solutions available at the moment.

The NFTs will come with the new devices once the preorder period ends. The NFTs are unique computer-generated pieces of art. Customers need to sign up on the Theta Network’s  ThetaDrop NFT marketplace to claim their rewards. In addition, they need to install the Samsung Members app. The code gives access to the NFTs on on ThetaDrop. Customers who preorder the Galaxy S22 and Tablet S8 models will receive an unopened NFT container. The containers will be accessible at the end of the preorder period.

Mitch Liu, co-founder, and CEO of Theta Labs, stated that Samsung’s decision to use Theta Networks illustrated the network’s global adoption as the go-to blockchain for video, media and entertainment projects. “We plan to provide ongoing membership benefits and privileges to Galaxy customers who own a Samsung Theta commemorative NFT and look forward to building a long-term community among members,” he added.

About Theta Labs

Theta Labs is the company behind The Theta Network blockchain and Theta TV. The Theta Network is a specialized proof-of-stake network. It is is the ideal blockchain for video, media and entertainment needs. This has endeared the network to many entertainers and multimedia production houses. Examples of partnerships in this market segment include Liongate, MGM Studios and NASA.

Additionally, the Theta platform enables users to generate passive income when they allow their internet to be used to relay videos. Theta Labs recently teamed up with the World Poker Tour, Fuse Media,  Katy Perry, Jukin Media and Entain Group (partypoker) to launch an NFT marketplace called ThetaDrop.