LG launched its own NFT marketplace today called LG Art Lab built on the Hedera network where it will drop signature NFTs and artworks for people to buy, sell, and trade using USDC stablecoins.
LG is bringing NFTs to TV for the first time. The company had previously hinted that they would be adding NFTs to their smart TVs at a global press conference in January.
The NFT platform is on Hedera, a sustainable network that uses Hashgraph instead of blockchain technology with “vastly less energy than any other public ledger,” says Chris Jo, SVP at LG.
Now, with the NFT platform, users can mint NFTs on their smart TVs and then complete the transaction by scanning a QR code on the Wallypto wallet app from the phone.
According to the official statement, LG Art Lab will be releasing its first NFT drop on 22 Sep 2022 featuring artworks from the Barry X Ball Studio. Only US users can mint these NFTs on smart TV.
LG also shared that they will keep adding more NFTs by different artists every month, and users will be able to purchase them on the LG Art Lab app.
Many believe LG’s NFT endeavors are competing with Samsung and Sony who have also been involved with different NFT projects. To stay relevant, LG is bringing NFTs to smart TVs as well.
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