Samsung Electronics is collaborating with Theta Labs, Inc. for the upcoming Galaxy NFT ecosystem built around the new range of Galaxy mobile phones.
Samsung Electronics has recently signed a memorandum of understanding (MOU) with some partners, including software company Theta Labs, Inc., to operate an NFT ecosystem exclusively for Samsung’s new range of Galaxy mobile phones. This initiative is part of an ongoing partnership between the two brands that started in February.
Theta Labs will issue Galaxy NFTs as part of this initiative, offering Samsung users an innovative consumer experience. It includes exclusive access to virtual events using ThetaPass, an NFT ticketing system.
Galaxy NFTs Utilities
As mentioned in the get-go, Samsung and Theta signed the MOU along with other South Korean retailers, including E-cruise, Shilla Duty-Free, Galaxy Store, Show Golf, and NFC solution company Alllink. The MOU would help Theta carry out this latest campaign and provide NFT holders with more utilities for each partner’s retail stores.
The signing of the MOU was held in Seoul’s Eland cruise dock. It was attended by Samsung Electronics marketing head Lee Shin-woo, Theta Labs CEO Mitch Liu, and Alllink CEO Kim Kyung-dong, among others.
According to Theta, the Galaxy NFT ecosystem promotes “consumer experience innovation” by bridging the divide between the virtual and real worlds through real-world benefits.
Hence, beginning this month, NFT holders of the Galaxy NFTs can participate in Theta’s promotion. They only need to install the NFT authentication app to tag their phones and verify their NFTs whenever they go to any offline retail store partners mentioned earlier.
For instance, Galaxy NFT holders will receive gift vouchers when they purchase Samsung Galaxy Z Fold4 and Z Flip4 mobile phones. They can also enjoy coupons for Shilla Duty-Free, cruise ride vouchers from E-Cruise, outdoor driving range vouchers from Show Golf, and gift card giveaways from the Galaxy Store.
Through Galaxy NFTs, Samsung wants to deliver “practical benefits” to its users through customer discounts and an authentication tool. However, Samsung will confirm further details about these benefits at a phone unveiling event scheduled for August 10.
Talks are rife that on the said day, Samsung will launch the Galaxy Fold 4, rumored to have an improved hinge design, slimmer build, and a Snapdragon 8 Gen 1 Plus that features a 4-nanometer process technology.
Per a press release announcing Samsung and Theta’s collaboration, it is suggested that there will be an in-person/retail component to the utilization process. Aside from the previously mentioned retail partners, the company’s in-house Digital Plaza stores are included.
“Samsung Electronics will continue to innovate the customer experience that connects the virtual world and the real world by using NFT with various partners,“ said the press release.
Theta Labs’ role is primarily to issue the Galaxy NFTs. Meanwhile, Alllink, an NFC payment solutions firm, will take care of authentication services.
“With this agreement, we’re launching the world’s largest ever offline NFT utility campaign, where more than 100,000 NFT holders can use their Theta NFT online and offline through ThetaPass technology,” said Liu.
“This is only the beginning, and we will continue expanding retail and e-commerce store coverage and utility to broaden benefits to Samsung NFT holders.”
Previous Samsung and Theta Collab
As already mentioned, this isn’t the first collaboration between Samsung and Theta. The two companies previously partnered on an NFT digital collectibles project in February in celebration of the Galaxy S22 and S8 Tablet launch.
During that time, those who pre-ordered the phone and table in Korea could claim free NFTs. They had to register on Theta’s NFT marketplace, ThetaDrop, using a unique code they received through a verification process using the “Samsung Members” app.
Theta’s Liu said at the time that the collaboration “exemplifies global adoption of Theta’s blockchain technology” and that he was looking forward to establishing a long-term community through said opportunity.
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