Here's one way to max leverage publicity around the launch of your keystone product: Throw in an NFT.
And that's just what Samsung has done, at least for consumers in South Korea. In partnership with crypto project Theta Labs, the electronics company will dole out commemorative non-fungible tokens (NFTs) to people who have pre-ordered either the Galaxy S22 smartphone or the new Tablet S8.
The NFTs reportedly come equipped with “ongoing membership benefits and privileges,” according to CEO and co-founder of Theta Labs, Mitch Liu. A Theta spokesperson could not share further details with Decrypt as to what these benefits would be, however.
Theta Labs is the team behind the blockchain project Theta Network as well as a crypto-native video streaming service called THETA.tv. Theta Labs is pushing its network within the esports and video streaming niche and incentivizes activity on its platforms through the native THETA token.
The token is currently trading at $3.56, down more than 5% over the past 24 hours, according to CoinMarketCap.
The latest NFT drop with Samsung is also expected to attract users to Theta's NFT marketplace, ThetaDrop.
That's because customers who have pre-ordered Samsung's Galaxy S22 or Tablet S8 can claim their NFTs by registering with ThetaDrop and applying a unique code generated through their “Samsung Members” app.
Pre-orders have already opened on February 9, and the devices will officially launch on February 25.
This isn't Samsung's first entrance into the world of crypto, nor its first tie-up with the Theta Network.
Samsung and cryptoSamsung NEXT, the South Korean firm's venture arm, invested in Theta Labs in 2019 as part of its focus on emerging technologies like artificial intelligence, blockchain, fintech, and more.
The Korean company added a Samsung Blockchain Keystore and Wallet to its Galaxy smartphones in 2019, enabling users to store their cryptocurrency private keys in Knox, a secure enclave on the device that's isolated from the main operating system, and can only be accessed using a PIN or biometric authentication. Successive Galaxy smartphones, including the S10 and S20 models, have supported the technology, while Samsung added support for hardware wallets in 2021.
The firm has entered the NFT market, too, adding support for non-fungible tokens to its 2022 television lineup. A press release accompanying the announcement outlined how users would be able to discover, purchase, and trade “digital artwork” through its MICRO LED, Neo QLED, and The Frame TV ranges.