LG Debuts Its NFT Marketplace On The Hedera Network

Ayush Pande
06.09.2022
LG’s Senior Vice President and Head of Platform Business, Chris Jo, states, “LG Art Lab is designed to allow millions of users in the U.S. to easily access and display NFTs, without having to interact with code or directly with a blockchain themselves.”

Appliances and tech giant, LG Electronics, enters the NFT marketplace scene with the launch of the NFT Art Lab.

What’s NFT Art Lab?

NFT Art Lab is an NFT marketplace that will allow users residing in the US to trade and display NFTs on their LG TVs. The platform integrates support for LG’s crypto wallet, Wallypto, and will enable users to utilize on-screen QR codes to instantly settle transactions in USDC.

NFT Art Lab is based on the Hedera network and will utilize the hashgraph’s low energy consumption and faster transactions to make NFTs more accessible for newcomers.

The marketplace also supports the “NFT Art Labs Drops” feature to profile artists and receive previews of the creators’ soon-to-drop collections.

NFT Art Lab will release its first drop titled “Granulo-Specular Chiaroscuro Meta-Morph (Metal Series)” in collaboration with famous sculptor Barry X Ball on September 22. Additionally, LG will add NFTs to its marketplace every month.

Smart TVs With NFT Support

At the beginning of the year, LG Electronics revealed its plans to integrate NFTs into its smart TVs. The South Korean claims the smart TVs operating on WebOS version 5.0 will provide access to NFT Art Lab from their home screens. 

LG’s venture into the world of NFTs will provide some competition to its rival, Samsung, which started integrating NFT support for its QLED, Neo QLED, and micro LED smart TVs earlier this year.

Stay on the pulse of NFTS

Gain access to exclusive interviews with industry leaders, think pieces, trend forecasts, guides and more

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
By subscribing, you agree to our Terms of Use and Privacy Policy

READ THIS NEXT

LATEST QUESTIONS
No items found.