28 December 2022
LG has announced its non-fungible token (NFT) platform called LG Art Lab. It is accessible via the company's smart TVs and will allow users to buy, sell, and trade NFTs directly from their TVs. It joins rival Samsung in offering a platform that facilitates NFT transactions directly from the smart television.
LG Art Lab is currently available only in the United States. It is available as an application on LG smart TVs running webOS 5.0 or higher. The app will let users access the store from where they will be able to browse the NFT collection. The first drop featuring a set of metallic-looking NFTs from sculptor Barry X Ball will drop on September 22nd. It will also preview upcoming drops along with a countdown so that collectors can be ready whenever they become available.
The platform has been built in collaboration with the Hedera Network. It is claimed to be the most sustainable, enterprise-grade public ledger. Whenever a user will come across an NFT that they would like to buy, they will see a QR code next to it. It needs to be scanned which will let them complete the transaction via the Wallypto app. It is LG's official crypto wallet app for smartphones.
“To help users gain a deeper understanding of their favorite NFTs and the creative minds behind them, the platform also presents informative artwork descriptions and short films that illuminate the artists’ creative processes. Users can follow and learn more about each artist in the app’s profile feature, and will even have the opportunity to meet some of them at upcoming, LG-sponsored art events.”