Seoul-based TV giant LG Electronics announced the launch of its non-fungible token marketplace – LG Art Lab – potentially opening up NFT collecting to a much broader audience.
With the latest platform, based on the Hedera blockchain, users will be able to explore, buy, sell and trade NFTs on LG’s smart television sets. LG Art Lab will also incorporate onscreen QR codes to enable users to complete transactions with the help of the company’s crypto wallet for smartphones, called Wallypto, which is also built on Hedera.
After an NFT is purchased, it can be traded on LG Art Lab Marketplace. Users will be able to view transaction history as well as look at their own artwork.LG had first hinted at plans to incorporate NFT features into its smart TV at a press conference earlier this year. Confirming the development, Hedera tweeted,
“Governing Council Member LGElectronics has launched LG Art Lab – built on Hedera – enabling LG TV owners to buy, sell and showcase #HederaNFTs from their screens. All LG TVs running webOS5.0 will be able to interact with the LG Art Lab app. #HelloFuture.” The move to onboard Hedera for an NFT integration comes naturally as the South Korean television company first joined the Hedera Governing Council back in May 2020. During that time, LG became the sole home appliance manufacturer to be roped in as a member of the council some of which also includes – Google, IBM, Deutsche Telekom and IIT, among others.
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