Blockchain & Crypto

LG Electronics launches NFT platform

LG Art Lab will help customers discover and trade NFTs straight from their LG smart TVs

LG NFT

LG Electronics launches NFT platform. Source: LG.com

LG Electronics has released its non-fungible token (NFT) platform LG Art Lab. The platform is now available in the U.S. only. To use it, customers should have LG TV running webOS 5.0 or later. The NFT exchange is embedded within the LG smart TV software and is accessible directly from the home screen.

To enable the new feature, LG Electronics partnered with the Hedera network. The app allows users to purchase NFTs via Wallypto, LG’s crypto wallet for smartphones. Beta version of the wallet launched in August. 

The partnership between Hedera and LG Electronics dates back to 2020 when LG joined the Hedera governing council that also includes Google, IBM, Deutsche Telekom and the Indian Institute of Technology.

The new platform is great for amateurs and digital art lovers who don’t need to code or interact with a blockchain. Besides, LG Art Lab provides a Drops feature that profiles artists and shows their new artwork previews. The real-time notifications also help users acquire a dropped NFT without missing an opportunity. 

In addition, the platform has no high gas fees or hidden costs. The Hedera Network also consumes little energy compared to many public networks, meaning that it can meet the ESG of modern businesses and investors. 

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Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.