Samsung Integrates Decentraland Marketplace to boost NFTs

This partnership opens up the mainstream gateway allowing for the safe storage of NFTs as well as trading of LAND and Decentraland NFTs on Samsung's blockchain wallet.

By · Jul 21, 2020 . 5min read

Decentraland announced the latest partnership with Korea’s smartphone giant Samsung which will integrate the Decentraland Marketplace app to the Samsung Blockchain Wallet.

Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain. Within the Decentraland platform, users can create, experience, and monetize their content and applications.

In Decentraland virtual world, users can buy land known as “parcels”. These parcels are in turn recorded on a blockchain-backed ledger. The land itself, as well as the virtual properties which users build on top of it, are non-fungible assets. These assets or NFTs are utility tokens with “LAND” as their names within Decentraland ecosystem.

This partnership opens up the mainstream gateway allowing for the safe storage of NFTs. It also creates an avenue for trading LAND and Decentraland NFTs on Samsung’s blockchain wallet.

Samsung demonstrated its support for blockchain and cryptocurrency by adding in-built cryptocurrency wallet in its Galaxy S10 phones. The Galaxy S10 phones also support selected decentralized apps (Dapps)

Source: Dappradar

Decentraland is itself a dApp, specifically, it is a marketplace for the sharing and trading of non-fungible tokens. A quick look at Dappradar shows it at 6th position among the various marketplaces available on the different blockchain platforms like Ethereum, EOS, WAX and Waves. As for Ethereum based marketplaces, it ranks 3rd with a mere 542 transactions among 153 active users. These data are within a 7-days period.

Samsung and Decentraland Partnership may lead to mainstream exposure

Data from Dappradar clearly shows a struggling platform when you consider metrics like transactions volume and daily active users. Asides the fact that Ethereum-based games are taking a beating due to skyrocketing gas fees, Decentraland and other blockchain games are still yet to boast of staggering numbers their mainstream counterparts command.

This is why Samsung integrating Decentraland marketplace app into its Galaxy S10 series and future releases could change the game for the decentralized gaming platforms if better explored.