Raymond Liao, managing director of Samsung Next, sees great potential in the Web3 industry, so the company will focus on investments in blockchain, artificial intelligence, and the metaverse.
In a recent interview, Raymond Liao revealed that Samsung Next intends to deepen its research into the Web3 sector by investing in MachineFi. The term was coined by the Internet of Things (IoT) platform IoTeX. It refers to the futuristic paradigm that the main “driving force” is machines based on Web3 technology.
Since its inception, Web3 has shown great potential, Liao said, although developers have yet to solve many problems related to the practical value of Web3 solutions.
“What IoTeX does touches on some of the things we do. We are focused on blockchain, artificial intelligence and metaverse research, so MachineFi is also of interest to us. I hope that we can contribute to the further development of this concept,” said the managing director of Samsung Next.
Liao believes that the crypto winter is another opportunity for investors and creators of crypto-currency products, as the market has been “too overpriced” in the past. Instead of thinking about making a 10x profit, Web3 developers should focus on the implementation of their products, which should solve certain problems. This would expand the Web3 ecosystem, Liao noted.
A top manager at Samsung Next praised non-fungible tokens (NFTs), calling them useful. He cited the example of the National Basketball Association (NBA) using collectible tokens to interact with sports fans.
In March, Samsung, together with the NFT trading platform Nifty Gateway, began developing the Smart TV NFT platform. Using this platform, owners of new smart TVs will be able to buy NFTs with debit cards. This month, the company announced its intention to introduce people to the history of its brand in the Roblox metaverse.
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