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 thefintechtimes.com 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.
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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professionals in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about latest developments in the industry.
tp:news
tp:research
tp:events
The Paypers
Prinsengracht 777e
1017 JZ Amsterdam
The Netherlands
Telephone: +31 20 658 0652
© 2022 The Paypers BV. All rights reserved.
No part of this site can be reproduced without explicit permission of The Paypers(V2.7).
Privacy Policy
Cookie Statement
Terms and Conditions
