Samsung Agrees to Use NFTs for Offline Shopping

Updated: 10 August 2022

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Samsung Electronics Co Ltd, a South Korean multinational electronics company, uses non-fungible tokens (NFTs) as a pre-order incentive for their goods. People in South Korea who pre-ordered a Galaxy S22 or Galaxy Tab S8 tablet received a New Galaxy NFT instead.

Customers who pre-order the Z Flip 4 or Galaxy Z Fold 4 will receive the Non-Fungible Tokens. To promote the use of Samsung New Galaxy NFTs, Samsung Electronics has collaborated with a number of physical retailers with headquarters in Korea.

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Samsung hopes to provide various services to customers through these NFTs, including perks such as discounts at partner stores. Samsung collaborated with web3 firm Theta Labs to create the New Galaxy NFTs unveiled in February 2022.

Those who pre-ordered the Galaxy S22 series and the Galaxy Tab S8 were the first to receive these. Moving on, on August 10, Samsung will unveil its newest product, and customers who pre-order it will also receive a New Galaxy NFT.

Samsung’s NFT Rewards

In contrast to other NFTs, which typically only offer residual value as their primary benefit, the New Galaxy NFT provides non-digital pleasures. Samsung claims to have reached an MOU (memorandum of understanding) with a number of regional companies.

It provides exclusive discounts and promotions to South Korean NFT owners at sites such as Digital Plaza and Show Gold.

Samsung Collaborates with Theta Labs

To give NFT investors even better in-store advantages, Samsung and other South Korean companies have partnered with Theta Network. This decentralized video distribution network offers a wide range of blockchain-enabled solutions to the issues affecting the traditional video-streaming industry.

Theta Labs and Samsung Electronics sent a variety of NFTs to customers. Particularly those who pre-order the Galaxy S22 and S8 tablets in February 2022. Theta works hard to ensure that all of these NFT investors can take advantage of their benefits online and offline.

Theta Network’s upcoming offline NFT utility campaign will target the 100,000 owners of these commemorative NFTs. Owners of New Galaxy NFTs will be able to participate in the campaign beginning in August 2022. Owners must download the NFT authentication program and tag their smartphones to verify NFTs in physical stores.

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