Report: Samsung Signs MOU to Build Galaxy NFT Ecosystem

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

According to a report on the Korean language news site News1, the six companies that signed the MOU with the electronics giant include 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 electronic goods 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 that Samsung Electronics plans to extend benefits that include discounts to users or holders of the New Galaxy NFT, who go through the NFT certification process. As per the report, the envisaged NFT certification process will be done at 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 together with Theta Labs had, according to the report, “presented the New Galaxy NFT in the shape of a smartphone and tablet design.”

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Terence Zimwara

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

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