As each day comes with the looming sound of Joy, we can barely tell which part of the globe has the day, but either way, all we seem bound to do is to loosen our dimples with those contagious smiles lingering underneath. While many startups keep at building bespoke displays for NFTs, the narrative has changed with Samsung. Samsung is taking a different approach in this regard as it sets to add NFT functionality to its smart TV sets with Nifty Gateway. While this feat booms, the potential opening up of its NFT stage is geared towards connecting to a much wider audience.
Nifty Gateway is an all-in-one platform that makes it easy to buy, sell, and store digital art and collectibles, otherwise known as Nifties (or NFTs). Nifty Gateway was founded by Duncan and Griffin Cock Foster in 2018. It further got acquired by Gemini in 2019, with the belief that crypto networks and the blockchain have the power to fundamentally change the art world by creating greater choice, independence, and opportunity for artists, creators, and collectors.
Life Is Good
On March 30, 2022, Samsung Electronics announced a partnership with Nifty Gateway. The tech firm announced the NFT industry partner which will be bringing its smart TV interface to life. The Nifty Gateway NFT platform will be integrated within Samsung’s new 2022 premium TV lines, including its QLED and Neo QLED sets, while owners of Samsung’s, The Frame and Micro LED sets can download a Nifty Gateway app to gain access.
Nifty Gateway worked alongside Samsung to develop an NFT viewing, buying, and trading experience optimized for televisions. It taps into Nifty Gateway’s custodial wallet system, in which the platform secures users’ collectibles rather than requiring them to hold them in an external wallet. It also lets its users purchase NFTs with a credit, debit card, or cryptocurrency.
Key moments abound within the circumference of start-ups, emerging and great companies. One of such moments usually go down to times of invaluable partnerships. This holds true for Nifty with remarks being made as stated below;
“Through our partnership with Samsung, one of the global leaders of electronics, together we will expose millions of mainstream users to NFTs,”.
Last year, NFTs had a breakthrough moment specifically for the art industry. Creators and collectors were able to see the power of this technology and this year, there is an ignited hope to see continued growth from mainstream consumers by providing for the first time ever, a seamless way to buy and collect NFTs.
According to Duncan Cock Foster, co-founder of Nifty Gateway:
“With our mission in mind, we couldn’t be more excited to partner with Samsung to develop a groundbreaking NFT collecting experience. Their dedication to user experience and focus on the highest quality displays aligns perfectly with our vision to allow anyone, anywhere, to interact with their favorite creators”.
Samsung chooses Nifty marketplace over OpenSea.
Experts usually consider OpenSea as the leader in NFT sales because of how easy it makes it to sign up and start trading. However, it does not offer the same range of services that Nifty Gateway does. On the other hand, OpenSea supports more than 150 payment tokens on its platform. In contrast, Nifty Gateway only supports fiat payments and tokens listed on the Gemini exchange platform.
One advantage of Nifty Gateway is that the platform offers NFT escrow services, i.e., they allow users to store their NFTs in a secure Nifty Gateway Omnibus wallet instead of their own wallets, an option that many collectors may find helpful. So Samsung’s choice may not be based on the platform’s trading volume or the number of users but on the security services they provide to their customers, taking a sharp contrast to NFT thefts and scams today.