Samsung Signs Memorandum of Understanding to Build Galaxy NFT Ecosystem


Korean electronics producer Samsung Electronics recently signed a Memorandum of Understanding (MOU) with six companies that will collaborate to build the Galaxy NFT ecosystem.

Galaxy NFT ecosystem

South Korean electronics manufacturer, Samsung Electronics, recently signed a memorandum of understanding (MOU) with six companies to build the so-called “Galaxy NFT [non-fungible token] ecosystem,” one report said. The signing paves the way for Samsung Electronics to start working on connecting the virtual and real world using NFT.

According to a report According to the Korean-language news site News1, the six companies that have signed the memorandum of understanding with the electronics giant are Alllink, Digital Plaza, e-cruise, Shilla Duty Free, Show Golf and Theta Labs. Theta Labs is Samsung Electronics’ NFT issuance partner while Alllink is the authentication solution partner.

In remarks following the electronics maker’s announcement, an unidentified company official said:

Samsung Electronics will continue to innovate the customer experience that connects the virtual world and the real world using NFT with various partners.

Meanwhile, the News1 report said Samsung Electronics plans to extend benefits that include discounts to users or owners of the New Galaxy NFT, who go through the NFT certification process. According to the report, the envisaged NFT certification process will be carried out in the remaining four companies, namely Digital Plaza, e-cruise, Shilla Duty Free and Show Golf.

Prior to the signing of the latest MoU, Samsung Electronics and Theta Labs had, according to the report, “presented the new Galaxy NFT in smartphone and tablet form.”

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic problems of some African countries as well as how digital currencies can provide Africans with an escape route.

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