Samsung wants to invest in artificial intelligence based on Web3

Samsung Next CEO Raymond Liao said that the company wants to dive into Web3 by investing in MachineFi. The term was coined by the IoTeX project to describe a futuristic model in which machines become the main workforce running on Web3 technology.

According to Liao, Samsung Next is focusing on investing in blockchain, artificial intelligence, and virtual reality. The executive explains: «You can see that what IoTeX is going for fits into several of our areas of interest. I hope we can contribute to the continued success of MachineFi. It’s very exciting.»

Liao emphasized that instead of focusing on profits, the industry should think about introducing new technology solutions and put the feasibility of expanding the Web3 ecosystem on the agenda.

Liao also praised NFTs in terms of their usefulness. Back in early 2022, Samsung announced that it would create an NFT aggregator that would be integrated into Micro LED, Neo QLED, and The Frame smart TVs. Users will be able to trade NFTs within the built-in platform.

Samsung has recently signed a cooperation agreement with Theta Labs: together with the web developer, the tech giant will create an NFT ecosystem. It will be entirely focused on the interaction with non-fungible tokens and virtual worlds. According to the company’s representatives, this will allow combining the benefits of Samsung’s real-life technology with virtual technologies.