Samsung Next executives: Web3 projects must face practical challenges

[Samsung Next executives: Web3 project must face practical challenges] On August 15, Raymond Liao, general manager of Samsung Next, said in an interview that although Web3 has shown great potential since its inception, but One challenge that players in this space must face is utility. Liao spoke about the company's move to dive into the Web3 space by investing in MachineFi, a term coined by the IoTeX project to describe a future paradigm where machines become the primary workforce driven by Web3 technologies.

According to Liao, SamsungNext is focused on investing in blockchain, artificial intelligence, and the metaverse. In addition to MachineFi, the Samsung executive also said that Web3 and the cryptocurrency winter is an opportunity for investors. Additionally, the executive emphasized that instead of focusing on 10x returns, it is better to focus on implementation, face the challenges of practicality, and expand the Web3 ecosystem. Liao also praised the utility of NFTs. In January, Samsung announced that it would create an NFT aggregator and integrate it into smart TVs such as MicroLED, NeoQLED, and TheFrame. Within the built-in NFT platform, users will be able to discover and trade NFTs. (Cointelegraph)

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