Samsung Enters Metaverse Through Collaboration with Decentraland ($MANA)

As we know, Samsung is not only a well-known brand but a formidable competitor in the smartphone sector.

The South Korean giant is also a provider of several smartphone components and parts behind the scenes.

Thus, Both Samsung and its competitors use Samsung’s screens, processors, and camera sensors for their smartphones.

Samsung has introduced its next-generation 14nm RAM technology in its latest mobile device. Future devices claimed to use the company’s technology, including those in „the metaverse.“

Samsung collaborating with Ethereum-based platform

 

As part of its entry into the metaverse, Samsung Electronics America is partnering with Ethereum-based platform Decentraland ($MANA). The business plans to construct a virtual duplicate of its flagship 837 physical shops in the digital realm.

According to The Block, the physical business is located at 837 Washington Street in New York City. Samsung 837X will be the name of the virtual store, which will be open for a limited period on the Decentrlanad metaverse.

According to the news site, this is „one of the largest brand land takeovers in Decentraland’s history.“ so The virtual shop will provide digital excursions through a „connectivity theatre and sustainable forest,“ as well as a musical celebration.   

Seeking Investment Ideas 

 

This year’s term is „metaverse,“ a centralized virtual environment alongside reality. Investors seek the most helpful investment ideas to tap into the future’s potential. In November 2021, Samsung Asset Management became the first actively managed local metaverse-themed ETF on the market. It has now established the first exchange-traded fund (ETF). It monitors firms based in the United States participating in the metaverse topic.

The Main Aim

 

According to a statement released by Samsung, the company aims to plant 2 million trees in Madagascar. by the end of the first quarter of this year. According to Mark Newton, Head of Corporate Sustainability at Samsung. Electronics America will also offer quests leading to 837X non-fungible token badges and limited-supply wearables in the company’s virtual Decentraland shop. Although the store will only be open for a limited time, the company „plans to provide additional such experiences throughout the year.“

Samsung Asset Management and Its Cutting-Edge Services

 

The Nasdaq Yewno Metaverse Index is Samsung Asset Management’s latest product. It is the company’s principal investment management arm. It was founded in 1998 and now manages more than USD250 billion in assets (as of Nov. 30).

Samsung Asset Management provides retail and institutional clients with offices in Hong Kong, New York, and London. Investment strategies span multiple asset classes. It includes domestic and global equity, fixed income, alternative investments, and multi-asset solutions via mutual funds ETFs and customized solutions.

Samsung Asset Management’s ETF suite, KODEX: An industry pioneer devoted to offering creative ideas, investor education, and the finest trading assistance. Since KODEX launched its first ETF in 2002, more than USD28 billion in assets have been managed through these products.

Bottom line 

 

Samsung wants a piece of the pie. Knowing that big players like Meta (previously Facebook) and Microsoft are attempting to establish a „metaverse.“ thus, They want to construct interconnected digital places through augmented and virtual reality.

And this time, the corporation is willing to help by providing the necessary gear. Samsung hopes to incorporate the chips into AR and VR headsets by powering their processors.

While the LPDDR5X memory chips aren’t a huge step forward from the LPDDR5. They include enhancements to help devices perform better and more efficiently. Samsung plans to collaborate with other chipmakers. to „create a more feasible framework. for the burgeoning realm of digital reality“ to safeguard the prospects. Samsung uses the LPDDR5X as the „basis“ for achieving this goal.

Frequently Ask Questions

Analysts feel that the current MANA price decline has reached its bottom and is now climbing—the recent news of Samsung entering the metaverse. And constructing a flagship 837 store in Decentraland has expedited the Bull Run.

The MANA coin is an excellent pick if you’re looking for a cryptocurrency that’s on a massive bull run. However, you should be aware that the cryptocurrency market is quite volatile when buying.

Decentraland (MANA) is one of the Decentraland platform’s native coins. Suppose you’re unfamiliar with Decentraland. It’s a 3D virtual reality platform powered by the Ethereum blockchain and managed by the Decentraland Foundation. So Users purchase plots (land parcels) and then navigate, create, and monetize them.

LAND is the other token used in Decentraland. To obtain the LAND token, Decentraland users must burn MANA tokens. However, MANA and LAND vary because MANA is an ERC-20 token, and LAND is an ERC-721 token.

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