Theta(THETA) New partnership with Samsung Electronics

Partner's Name

Samsung Electronics

Counterparty Website

https://www.samsung.com/sec/

Counterparty Details

Samsung Electronics Co., Ltd. is a South Korean multinational electronics corporation headquartered in the Yeongtong District of Suwon.

Does this partnership generate any kind of revenue?

NO

Applicable Date(s)

2022-02-13

Partnership Details

On February 14, 2022, video and entertainment blockchain Theta Network has teamed up with global electronics giant Samsung Electronics to release commemorative NFTs. Samsung will drop the NFTs to celebrate its latest range of devices, the Galaxy S22 and Tablet S8 models. The NFTs will exclusively be available for customers who preordered the two models in South Korea.

Samsung’s decision to use the Theta Network unsurprising. That is because Theta has cut a niche as a specialized blockchain for video, media and entertainment. Furthermore, Samsung considered Theta blockchain’s high transaction speed, which is about 100x faster than Ethereum. Also, users of the blockchain enjoy low transaction fees. Also, because it uses the proof-of-stake (POS) model, the Theta protocol is more eco-friendly. Essentially, this translates to less energy consumption than other solutions available at the moment.

The NFTs will come with the new devices once the preorder period ends. The NFTs are unique computer-generated pieces of art. Customers need to sign up on the Theta Network’s ThetaDrop NFT marketplace to claim their rewards. In addition, they need to install the Samsung Members app. The code gives access to the NFTs on on ThetaDrop. Customers who preorder the Galaxy S22 and Tablet S8 models will receive an unopened NFT container. The containers will be accessible at the end of the preorder period.