South Korean electronics giant Samsung is building an ecosystem for its non-fungible tokens (NFT). Samsung has signed a memorandum of understanding (MoU) with several retail stores so that its New Galaxy NFT project can be used in the real world.

According to a news release, Samsung NFT holders can get discounts on the company’s flagship Galaxy S22 series and Galaxy Tab S8 phones when they buy them at certain stores in South Korea. Some of the shops are Samsung Digital Plaza, Shilla Duty Free Shop, Show Golf, and E Cruise.

People who own one of the NFT pieces will be able to get discounts and other perks at the places listed. A company representative said that the goal of the initiative is to encourage innovation in the customer experience.

“Samsung Electronics will keep coming up with new ways to connect the virtual and real worlds for customers by using NFT with different partners,” the official said.

In February, Samsung and Theta Networks worked together to start the New Galaxy NFT project. Customers in South Korea who pre-ordered Samsung Galaxy S series phones at the time were given NFTs as digital souvenirs.

Samsung plans to offer the programs to customers who pre-order its new line of foldable phones, such as the Z Flip 4 and Z Fold 4, which will be shown off at its August 10 Unpacking Event. But it’s still not clear if the program will be used in other countries.

Samsung is digging deeper into blockchain technology.

This is not the first time Samsung has tried to get people to use NFT. Samsung announced earlier this year that it would be making a new line of Smart TVs with NFTs. Through a partnership with Nifty, the Smart TV NFT platform lets users see their NFTs and navigate the NFT marketplace. Besides being on the Decentraland metaverse, this is another place where it can be found.

Before, Samsung had also made a lot of progress in getting people to use blockchain technology. The company has built digital asset wallets into some of its phones, made chips that meet the strict security requirements of blockchain, and even thought about making its own blockchain platform and token.

The company’s investment arm has also set up the first ETF in Asia that will track companies that work with digital currencies and blockchain technology. In the meantime, Samsung America made news earlier this year when it used blockchain technology to help replant trees in Madagascar.

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