To begin with, the new Samsung smart TVs will include a built-in, user-friendly NFT platform that shall allow customers to explore and trade digital works from the comfort of their sofas. The company revealed its intentions to launch a new smart TV series with integrated NFT functionality, allowing users to browse, purchase, sell, and show content through a tailored platform.

Customers will reportedly be allowed to explore as well as purchase NFTs directly from their TVs via the new 'NFT Aggregation Platform,' which shall be available on Samsung's MicroLed, Neo QLED, and The Frame models. The site imports NFTs from other marketplaces, enabling visitors to view the art and find other relevant details like who created the piece alongside important blockchain metadata.

Furthermore, those who already own NFTs can use the site to exhibit their collection. According to Samsung, its 'Smart Calibration' technology will be able to automatically alter the television's settings to properly match the original creator's standards, guaranteeing that the image is delivered as accurately as possible via the TV.

Aside from NFTs, Samsung has also partnered up with Veritree through which the electronics manufacturer will gain access to the Cardano (ADA) blockchain. The collaboration is part of Samsung's land restoration initiatives, and also gives the corporation access to not just Cardano, but the wider blockchain sector.

As if that weren't enough, Samsung has also entered the metaverse sector through a partnership with Decentraland (MANA), an Ethereum-oriented virtual reality platform. In Decentraland, the company has hence built a digital counterpart of its real-world flagship 837 store. The actual store is located at 837 Washington Street in Manhattan's Meatpacking District whereas the virtual store, known as the Samsung 837X, shall be available in Decentraland for a short period.

According to Samsung representatives, this is one of the biggest and most significant brand land takeovers in Decentraland history. "The metaverse enables its users to go beyond physical and geographical constraints in order to create innovative, unique and memorable digital experiences which would not be possible otherwise," stated Michelle Crossan-Matos, Samsung's Senior Vice President of Corporate Marketing and Communications.

WeChat, owned by Tencent and China's most popular messaging app as well as one of the nation's biggest payment platforms, has announced plans of supporting China's sovereign digital currency, the digital Yuan.

China had begun working on the digital yuan all the way back in 2014, but it has yet to be implemented on a nation-wide scale. However, WeChat's decision to allow the digital currency, which has since garnered more than 1 billion users to date, might provide it with a significant boost if the country' citizens start utilising it for various payments and transactions on a regular basis.

Even now, the PBoC (People's Bank of China), which is responsible for issuing the digital Yuan, also referred to as e-CNY, has conducted limited experiments in specific locations through lotteries during which the central bank has distributed modest quantities of the nation's currency to certain residents. With that being said, despite the lack of a specific time frame for a statewide deployment, there would appear to be several indicators which suggest that the PBoC is aiming to extend the use of the digital Yuan.

It is no secret that the increased usage and popularity of cryptocurrencies has prompted governments and regulatory agencies all over the world to come up with a counter to these new digital assets, and this answer arrived in the form of central bank digital currencies (CBDCs). Despite many countries already working on their own respective CBDCs, China would nonetheless almost always be at the forefront of the conversation, as it was the Chinese government which had decided to put an all end to all crypto-based activities within the country last year, which also involved the shutting down of various mining operations and nation-wide crackdowns that resulted in many local crypto enthusiasts, traders and investors being forced to flee the country and Bitcoin’s hash rate being adversely affected.

Ultimately, it is unclear as to how successful CBDCs will be in the future as certain nations have elected to opt for cryptocurrencies instead and we need only look at El Salvador officially making Bitcoin (BTC) legal tender for proof of this. Still, the work around the digital Yuan should not be ignored, as the usage of e-CNY could have great potential as we draw closer to the upcoming Beijing Winter Olympics, which is an event that has also caused some controversy as it had been reported that all visiting teams will be required to use the digital Yuan with seemingly little to no choice.

In crypto a new year never ceases to surprises. With Crypto in full swing and hopes high for ATH in October and November, the resulting December and start to January have been a letdown for sure. Since December 27, 2021 to present, Bitcoin has fallen in price by more than $10,000 USD per coin, and the rest of the cryptocurrency market has followed suit sheading over $300B USD in total crypto market cap, in that same time. The crypto market has reached high levels of fear on the Fear and Greed index, and on Wednesday the Federal Reserve accentuated the downside by releasing minutes from December that recorded their intention to move up the timetable for interest rates increases, to mid-March. An obvious move in the face of present inflation numbers. The effect this information had on sentiment in all investment markets was clearly visible via substantial red candles across the board.

 

The minutes explored measures by the Fed to reduce their support in the traditional financial markets starting in March. It was an expected move and is necessary with spiraling inflation numbers. Crypto continues to show a strong correlation to traditional investments and is naturally reacting with higher levels of volatility to the downside. Other crypto news items like Bitcoin mining bans in Kosovo, Internet outages in Kazakhstan, seasonal investment trends and practice of booking profits are also a go to reasoning for late December downward shifts in crypto prices. These topics have added to fears, but the true culprit is crypto’s correlation to traditional investment markets and news, with ongoing troubles. 

 

Crypto veterans will know by experience that this kind of volatility is good for the market, and in future will be recognized as a great buying opportunity. Pullbacks do in fact shake out weak hands and build a stronger foundation. It is also always encouraging to see that bottom grow. Crypto continues with exponentially increasing adoption, delivering new opportunities daily, and this downside will look microscopic in time from certain higher highs.