The rise of NFTs is one of the most astonishing stories in the history of blockchain. For the first time, consumers can truly own digital items. Though image files have existed for quite some time, it took the emergence of blockchain technology for uncontested ownership to become a reality. The blockchain provides a foolproof, surefire method to prove ownership of digital assets. Using the same technology that powers bitcoin, NFTs are one-of-a-kind image files that you can call your own for life. In the old days, most people could only collect as many artworks as they could fit in their homes. Thanks to NFTs, you can own and enjoy a vast number of artworks.
Recently, Samsung entered a new partnership with NFT marketplace Nifty Gateway (NG). Together, NG and Samsung are working to develop a new NFT platform for smart TVs. This will allow users to browse, buy and trade NFTs from their TVs. Samsung integrated NG with its 2022 line of high-quality smart TVs. By using NG technology, users can display and interact with NFTs in a comfortable, user-friendly way. This partnership represents a milestone in Samsung’s quest to dominate the smart TV market. With moves like this, Samsung hopes to woo customers who keep up to date with the latest technological trends. This new technology represents an industry-first innovation. People often view art collecting as an exclusive hobby for the well-to-do. If NG and Samsung have their way, that might well change. Helping ordinary people collect art is democratizing and empowering. NFT collecting can also be a form of investing.
To date, NG provides a marketplace of over 6,000 NFT artworks. This collection includes pieces from established artists and up-and-coming names with great potential. Artists available include Beeple, D. Arsham Pak, and a multitude of others. Besides providing new options for art collectors, NFTs create new opportunities for artists. Through NFTs, artists can distribute and market their works in an efficient, modern way. NFTs aren’t restricted to illustrations, either. Videos, audio recordings, icons; any type of digital item can be bought or traded as an NFT. In fact, a number of cutting-edge artists are involved in multimedia NFT campaigns.
NG is concerned with making it simpler to buy, make and sell all types of NFTs. Company co-founder Duncan Foster has spoken to the press regularly about his commitment to democratizing NFTs. NG has suitably ambitious goals for increasing interest in NFTs. According to Foster, NG won’t rest until one billion people are trading NFTs. Though this is an ambitious goal, history has shown that there can be little excellence in the absence of ambition.
NG was founded by Duncan and Griffin Foster in early 2018. The company was acquired by blockchain company Gemini within one year. Founded by the Winklevoss twins in 2014, Gemini is dedicated to all things blockchain-related: Bitcoin, ether, NFTs, and more. Cameron and Tyler Winklevoss famously earned their fortunes by investing in bitcoin. It is telling that market predictors of this caliber are backing NG and NFTs in general.