Big Tech Companies Contributing to the Development of the Metaverse and NFTs

14 January 2023

NFTs is the key to unlocking the doors of Metaverse, enabling identity, community, and social experiences within the Metaverse.

Metaverse and NFTs have created a new way of interacting with consumers, convincing many technology giants to enter this field, including Samsung and LG.

Samsung joins the Metaverse and opens its first Decentraland store

samsung metaverse store

Samsung Electronics America, the US branch of Samsung, has opened a virtual version of its flagship 837 physical store in Decentraland. The physical store is located at 837 Washington Street, Meatpacking District, Manhattan, NYC.

The Samsung 837X Store will offer digital adventures through three main themes: "Connected stage", "Unique Forest" and a celebration of music. The Connected Stage will introduce Samsung at the Consumer Electronics Show (CES).

Veritree operates a "Cardano Forest" where users can donate 15 ADA or more to receive tree tokens. Then, Veritree planted a tree on behalf of the users for each ADA exchanged. Tree tokens can be used for limited-edition tree NFTs.

For the custom stage in the 837X store, participants will experience a mixed reality live dance party hosted by DJ Gamma Vibes from the actual Samsung 837 store. At the same time, they also have the opportunity to receive many valuable NFT rewards from this event.

The above move comes just one day after Samsung announced supporting NFT on smart TVs with MicroLed, Neo QLED, and The Frame products in 2022. Therefore, it can be affirmed that the largest corporation in Korea is betting big on the NFT and metaverse alongside other brand like Meta, NIKE, adidas, Ubisoft, Square Enix, NVIDIA, Amazon, Coca-Cola, Pepsi, Budweiser and PwC.

However, South Korea is also racing to access the NFT and cryptocurrency markets quickly. For example, the Korean Presidential candidate who issued an NFT to raise money for the election campaign, and the Korean legislator accepted political donations in Bitcoin (BTC).

LG Electronics partners with PIXLYNX to join NFT Music


Deadmau5 co-founders and Richie Hawtin will be hosting virtual concerts for fans. These concerts will be accessible to LG customers around the world. This marks an important development in the world of NFT Music.

One of their partners, Oorbit, is providing a technology platform for virtual concerts. The platform is interoperable, this is a major add-on that will allow brands to create their NFT rewards strategy.

The LG Metaverse partnership between PIXLYNX and Oorbit is an important step in Web3's evolution towards mass adoption. In addition, as LG plans to push engaging content to its customer base, more consumers will interact and own the NFTs.

This could be a sign of a whole new wave of Web3 netizens.

(Source: Businessinsider)

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