BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Metaverse

Samsung Joins the Metaverse: What It Means for Crypto

Alexa by Alexa
May 4, 2022
in Business, Metaverse
Reading Time: 3 mins read
A A
Samsung Joins the Metaverse: What It Means for Crypto
1
SHARES
16
VIEWS
Share on TwitterShare on Reddit

In conjunction with Decentraland, an Ethereum-based virtual reality platform, Samsung Electronics America has entered the metaverse realm.

You might also like

Telegram Enables USDT Stablecoin Payments on the Tron Network

Unstoppable Domains Set to Roll Out Web3 Messaging Service on Ethereum

Binance Space ID Tokens Launchpad Secures BNB Commitments Worth $2.8 Billion

Samsung has created a virtual replica of its flagship 837 physical stores in Decentraland. The real-world location is 837 Washington Street in New York City’s Meatpacking District, Manhattan. Samsung 837X will be accessible on the Ethereum blockchain for exploration and development for a brief period.

The metaverse is a virtual environment that allows users to interact with each other seamlessly across the internet. Virtual reality devices are needed in order to participate in it. Samsung’s Metaverse is built on top of Decentraland, which hosts decentralized virtual worlds on the blockchain via smart contracts. The contest’s goal is for both companies to get people excited about virtual reality and for developers to spread their wings in a sandboxed environment.

Samsung Electronics America has entered the metaverse realm with the company’s Metaverse contest that it is holding alongside Decentraland, an Ethereum-based virtual reality platform. This furthers its recent efforts to get consumers interested in virtual reality technology via its partnership with Oculus and Gear VR headsets. 

The Metaverse contest runs from August 15 through September 9 and allows participants to design a virtual replica of the 837 flagship store in New York City’s Meatpacking District, Manhattan. The Samsung 837X will be accessible on the Ethereum blockchain for exploration and development by contestants for a brief period.

Metaverses are virtual environments that allow users to interact with each other seamlessly across the internet. Virtual reality devices are needed in order to participate in this metaverse realm. 

Samsung’s Metaverse is built on top of Decentraland, which hosts decentralized virtual worlds on the blockchain via smart contracts. The goal of this contest is for both companies to get people excited about virtual reality and for developers to spread their wings in a sandboxed environment.

What is Decentraland?

Decentraland is a virtual world built on open standards, where users can buy and develop LAND (3D space).

Users will be able to buy plots of LAND and build whatever they want on it, like 3D structures or applications.

If you own a piece of land, you can generate revenue by displaying ads or charging people who wish to visit the structures on your land.

Owners also have full control over their land, meaning they can choose what content to display on it. Owners are free to either develop or resell their LAND.

Decentraland’s aim is to create a virtual world owned by its users, which is completely different from most virtual worlds today, where large companies are the main landlords.

Creating a virtual world that’s owned by its inhabitants will lead to new types of social interactions, as people will be able to interact with each other under more equitable conditions than in traditional virtual worlds.

Currently, the Metaverse is dominated by centralized, authoritarian hubs like Second Life and Active Worlds, but Decentraland could be the beginning of a new era based on decentralization.

Tags: decentralandmetaverseNFTssamsung
TweetShareShare

Recommended For You

Telegram Enables USDT Stablecoin Payments on the Tron Network

by BlockNews Team
March 24, 2023
0
Telegram

Telegram integrates USDT-TRON (TRC20) into its platform, allowing users to send the stablecoin to their contacts seamlessly and without transaction fees. Telegram's venture into cryptocurrencies began with the...

Read more

Unstoppable Domains Set to Roll Out Web3 Messaging Service on Ethereum

by BlockNews Team
March 24, 2023
0
Unstoppable Domains

Unstoppable Domains is launching Unstoppable Messaging, a platform for sending encrypted messages from Polygon-based domains.  The messaging service aims to help Web3 projects build their communities and foster...

Read more

Binance Space ID Tokens Launchpad Secures BNB Commitments Worth $2.8 Billion

by BlockNews Team
March 24, 2023
0
space ID logo

More than 8.4 million BNB tokens were for up for the Space ID token sale Space ID earned $2.85 billion within 48 hours Final allocation will be based...

Read more

Coinbase Argues Software Services Are Not Securities: A Case Against the SEC

by BlockNews Team
March 24, 2023
0
coinbase

Coinbase CLO Paul Grewal announced that the company provided details to the SEC about why staking services are not securities Grewal saw the SEC’s perspective on software services...

Read more

Nigeria Now Enabled to Make Direct Crypto Purchases Through MetaMask

by BlockNews Team
March 24, 2023
0
metamask

Nigerians can now buy crypto using MetaMask instead of centralized exchanges Crypto fintech MoonPay merged with ConsenSys to allow users to buy cryptocurrencies through direct bank transfers Nigeria...

Read more
Next Post
Square Enix President States His Perspective on Play-to-Earn Blockchain Games

Square Enix President States His Perspective on Play-to-Earn Blockchain Games

Related News

SushiDAO Logo

Sushi to Roll Unclaimed Governance Tokens into DAO Treasury

January 25, 2023
Santander-UK-Crypto-Logo

Multinational Banking Group, Santander UK, Introduces Crypto Transaction Limits

November 7, 2022
coinbase

Coinbase Announces Suspension of BUSD Trading Beginning March 13

March 1, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block – MAR 24 Week in News March 24, 2023
  • Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption March 24, 2023
  • UK to Mandate Declaration of Crypto Holdings in Tax Forms March 24, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?