Top Manager of Samsung Next: “Now is the time to innovate Web3”

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Samsung Next Managing Director Raymond Liao sees great potential in the Web3 industry, so the company will focus on investments in blockchain, artificial intelligence and metaverses.

In a recent interview with Raymond Liaosaid that Samsung Next intends to deepen its research into the Web3 sector, namely, to invest in MachineFi. The term was coined by IoTeX, a platform specializing in the Internet of Things (IoT). It denotes a futuristic paradigm in which the main “driving force” is machines powered by Web3 technology. 

According to Liao, since its inception, Web3 has shown great potential, although developers still have to solve many problems related to the practical value of Web3 solutions.

“What IoTeX does is touch onsome areas of our activities. We are focused on researching blockchain, artificial intelligence and metaverses, 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 crypto winter is anotheropportunity for investors and creators of cryptocurrency products, as market returns have been “too inflated” in the past. Instead of thinking about making 10x profits, Web3 developers should focus on introducing their products to solve specific problems. This would expand the Web3 ecosystem, Liao noted.

Top manager of Samsung Next praisednon-fungible tokens (NFTs), calling them useful. He cited the example of the National Basketball Association (NBA), which uses collectible tokens to interact with sports fans.

In March, Samsung, together with the platformFor NFT trading, Nifty Gateway began to develop a Smart TV NFT platform. Using this platform, owners of new smart TVs will be able to purchase NFTs using debit cards. This month, the company announced its intention to introduce people to the history of its brand in the Roblox metaverse.