LG Electronics Launches an NFT Platform for Its Smart TVs

Just months after Samsung announced that it was launching non-fungible tokens (NFTs) for its TVs, another Korean company, LG Electronics, has done the same.

LG has launched its own NFT marketplace called LG Art Lab that will allow users to find, buy, and sell high-quality digital artwork right from LG's smart TVs.

Apple and Samsung Launched LG Smartphone Trade-in Program

Samsung and Apple have launched a program to exchange old LG smartphones for new mobile phones in South Korea. To do this, they offer to pay the market value of old phones and give another $135 as a gift.

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The platform is currently only available in the US and only to those with an LG TV running webOS 5.0 or later. LG Art Lab can be downloaded from the TV's home screen.

To purchase NFTs, users will need to scan the QR code on the TV screen and then open the Wallypto app on the phone to complete the transaction. Financial transactions will be made through the USD Coin (USDC).

LG Could Close Down Its Mobile Phone Business

The South Korean tech giant stated that LG’s smartphones couldn’t compete in the global mobile device market. That’s why LG should make a final decision.

Recorded News — Tech NewsBradley Rhodes

LG Electronics has partnered with the Hedera network to build its NFT platform. Hedera is a public, distributed ledger that allows users to make transactions with virtually no fees by consuming significantly less energy than any other public ledger.

For now, the marketplace is virtually empty, but LG says it plans to expand its range of NFT content on a monthly basis.