This process, sometimes called “modified atmosphere packaging,” maintains the red color of ground beef, since oxygen can make meat turn brown or grey within a couple of days.
Nitrogen is fairly common in food packaging. It's found in wine bottles and packaged coffee to keep the products fresh and protect them from oxidation damage.
The FDA claims that by eliminating oxygen from meat packaging, these gases may help meats last longer and prevent the growth of undesirable organisms like mold.
While there are safety concerns about the use of liquid nitrogen in food, it’s not the same thing. Liquid nitrogen is uncommon in food and is generally used for novelty purposes.