Theta partners Samsung to launch an offline NFT utility campaign

Tuesday 9 August 2022 15:04 CET | News

US-based decentralized video delivery network Theta Network has partnered with Samsung and other South Korean retailers in order to provide NFT holders more utilities in retail stores.


In February 2022, Theta Labs and Samsung Electronics issued a selection of commemorative NFTs to pre-order buyers of the Galaxy S22 and S8 tablets. Theta wants to ensure that these NFT holders are able to access their benefits both in the online and offline space.

Theta Network’s new offline NFT utility campaign targets the 100,000 holders of these commemorative NFTs. For the campaign, Theta signed a memorandum of understanding (MOU) with various retailers in South Korea such as Show Golf, Galaxy Store, Shilla Duty Free, E-cruise and NFC solution company Alllink.

Starting with August 2022, anyone who owns New Galaxy NFTs can take part in the promotion. In order to verify the NFTs in retail stores, holders need to install the NFT authentication app and tag their smartphones.

Some of the main benefits of this campaign include gift vouchers for Galaxy Z Fold4 and Z Flip4 purchases, as well as vouchers for E-cruise rides, the Show Golf outdoor driving range, and the Shilla Duty Free Shop. The promotion also includes Galaxy Store gift card giveaways.

Officials from Theta Labs cited by called this the world’s largest ever offline NFT utility campaign. Through ThetaPass technology, holders can use their Theta NFT both online and offline. The company plans to expand retail and ecommerce store coverage in order to broaden the benefits to Samsung NFT holders even more.


US-based decentralized video delivery network Theta Network has partnered with Samsung and other South Korean retailers in order to provide NFT holders more utilities in retail stores.


NFT transaction activity is stabilising in 2022

According to a report by blockchain data firm Chainalysis, NFTs saw explosive growth in 2021 but the growth has not been consistent. In 2022, the same report indicates that NFT transaction activity is stabilising. As of May 1, 2022, collectors have sent over USD 37 billion to NFT marketplaces, which is USD 3 billion less than the USD 40 billion sent in 2021.

When it comes to the monthly share of web traffic to NFT marketplaces by region, Central and Southern Asia are in the lead, followed by North America and Western Europe. In this context, Theta’s partnership with Samsung comes at a time when, despite fluctuations in transaction volume, the number of active NFT buyers and sellers continues to grow.

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Keywords: crypto asset, NFT, digital assets, cryptocurrency
Categories: DeFi & Crypto & Web3
Companies: Theta Network
Countries: Korea, Republic of
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