NFTs are everywhere now, from the recent entry of Meta to widespread adoption by the likes of Tiffany & Co. and Prada. Samsung has already embraced the format, and it’s continuing that trend by adding its New Galaxy NFTs to Z Fold 4 and Z Flip 4 pre-orders. The New Galaxy NFTs still don’t have an explicit value, but they will provide customers who pre-order the foldable with access to discounts at select retailers.
This comes after Samsung signed a memorandum of understanding with a handful of companies to grow its NFT ecosystem.
For loyal Samsung customers, you may recall that Samsung previously offered its new Galaxy NFTs with its Galaxy S22 and Galaxy Tab S8 series, which offered similar discounts. Adding some sort of extra value to NFTs at least makes them more convenient, but it still feels like a lot of extra steps just to give customers a discount at certain stores.
Non-fungible discounts — Samsung claims that the New Galaxy NFTs were made in partnership with blockchain company Theta Labs. These NFTs can be authenticated and then act as a unique discount code for a customer at participating retailers.
All in all, New Galaxy NFTs look like a glorified coupon code meant to entice customers to pre-order. That may be because Samsung is still quite early in building out its NFT offerings, but I think most of us would prefer a simpler approach.
NFT ecosystem — This is the first time Samsung has made its New Galaxy NFTs for its two foldables, the latest of which is expected to be announced in the coming days at its Unpacked event. However, Samsung hasn’t mentioned whether its new Galaxy NFTs will be offered beyond its South Korean customer base.
It’s pretty clear that Samsung is laying the groundwork for its own NFT ecosystem. Besides its new Galaxy NFTs, Samsung has already developed a smart TV that displays your digital art. Before we know it, we might be surrounded by NFTs.