Samsung Partners With Theta Network (THETA) For Galaxy NFT Ecosystem

August 11, 2022 9:48 pm Comments

It looks like Theta Network is continuing to make strides despite the recent bearish crypto markets that has affected many crypto firms.

Samsung revealed that it had partnered with Theta Network in order to operate a new NFT ecosystem for its flagship Galaxy smartphones.

The purpose of this is to promote consumer experiences virtually, but investors also believe that this will bring major awareness to the Theta Network and also its native token THETA.

Additionally, this would provide a demonstration of Theta Network’s real world use cases which proves its capability as a blockchain.

CryptoSlate reports:

The role of Theta Labs is to issue the Galaxy NFTs, whereas NFC payment solutions firm Allink provides authentication services.

In an English language press release shared with CryptoSlate, Theta Networks co-founder Mitch Liu said Theta is “launching the world’s largest ever offline NFT utility campaign.”

“more than 100,000 NFT holders can use their Theta NFT online and offline through ThetaPass technology.

This is only the beginning, and we will continue expanding retail and ecommerce store coverage and utility to broaden benefits to Samsung NFT holders.”

ThetaPass refers to an NFT ticketing system to access virtual events, first mentioned in January.

This is also not the first time that Theta Networks has partnered with Samsung and other technology giants.

Samsung and Theta had previously partnered on a NFT digital collectibles project earlier in the year which allowed for a lot of organic growth for the Theta blockchain ecosystem.

This new project is expected to once again at another catalyst for more growth and it seems that the price of Theta has already increased since the announcement.

So far, the price has increased to a price of $1.62 and seems to have broken a major resistance level which was around the $1.60 range.

Whether or or not the bull trend will continue is still to be determined.

TheFintechTimes concludes:

In February of this year, Theta Labs partnered with Samsung Electronics to issue and provide commemorative NFTs to pre-order buyers of the new Galaxy flagship models, the S22 series and tablet S8.

With around 100,000 holders of these commemorative NFTs, Theta wanted to ensure that token holders could feel the benefits of their token in both an online and offline capacity.

To carry its latest campaign, Theta has signed a memorandum of understanding (MOU) with various retailers in South Korea, including Shilla Duty Free, E-cruise, Show Golf, Galaxy Store and NFC solution company Alllink. This MOU was made to provide NFT holders more utilities in each partner’s retail stores.

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