LG Electronics Introduces NFT Platform for TV Screens Tapping Hadera Blockchain Network

LG Electronics Introduces NFT Platform for TV Screens Tapping the Hedera Blockchain Network

LG Electronics, the Seoul-based electronics giant, has launched a new non-fungible token (NFT) platform with the help of the Hedera blockchain – a project that the company supports as part of its governing council. The company’s platform is called LG Art Lab. According to an announcement, it will give consumers a way to buy, sell and display digital art in the form of NFTs on their televisions. LG’s entry into the NFT space comes after Samsung left the NFT marketplace on three of its TVs, all powered by Nifty Gateway.

LG Art Lab is available in the US on televisions running webOS 5.0 or later, According to the announcement, includes a feature that offers artist profiles and previews of their upcoming work, as well as a countdown to upcoming NFT “drops.” The platform’s marketplace provides a place to trade pieces.

The Hedera Network Underlines the new platform, in which transactions are ongoing wallyptoAn LG-patented crypto wallet for smartphones that is currently in beta testing.

“Many people have heard of NFTs and would like to participate in the growing ecosystem, but getting started can be very complicated and difficult,” said Chris Jo, Senior Vice President, Platform Business Head, LG Electronics. said TechCrunch. “LG Art Lab is designed to allow millions of users in the US to easily access and display NFTs without interacting with code or directly on the blockchain.”

Earlier in the year, LG announced plans to include NFT platform features in its line of smart televisions. The move follows a similar move by rival Samsung Electronics. Because both LG and Samsung are the biggest players in the global TV market. Furthermore, LG led global sales of home appliances worth KRW 27.11 trillion (approx. Rs. 1,57,825 crore) last year.

So far, LG and Samsung have maintained their commitment to incorporating blockchain technology into new TV models and products. Moreover, LG, in particular, appears to be interested in the idea of ​​doing the same with the Wallypto.


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