NFTs continue to be highly interesting to many brands and large companies. After Samsung, it’s LG’s turn to take interest in non-fungible tokens, the other new way to make a profitable investment over time. Now, with its new NFT Marketplace, LG Art Lab enables users to buy, sell and collect high-end digital artworks. The Korean giant plans to update its collection every month to delight consumers.
LG NFTs will be directly available for purchase from the home screen of the brand’s televisions, via the LG Art Lab application. From their own TV, users will be able to purchase an LG NFT using Wallypto, the brand’s crypto wallet. At this time, this feature is only available to LG brand users in the United States. Also you should know that for the moment only those TVs that run on webOS 5.0 or more can access the application. In practice, the brand’s first NFTs, created by sculptor Barry X Ball, will be available on US LG televisions from September 22, 2022.
“Delivering exceptional picture quality and offering a choice of several large screen sizes, LG’s state-of-the-art TVs are the perfect medium for displaying its NFT collection.”
LG press release
In its project to integrate NFTs into its televisions, the LG group has chosen to partner with the Hedera network, an alternative network that does not work on the blockchain. Hedera, which LG Electronics joined in 2020 as a board member, uses an alternative blockchain solution, hasgraph. It is an independent network that allows users to easily access, buy, sell and collect NFTs, without necessarily having to interact with code and let alone a blockchain.
“LG Art Lab is designed to allow millions of users in the United States to easily access and view NFTs, without having to interact with code themselves or directly with a blockchain.”
Chris Jo. Senior Vice President and Head of Platform Business for LG-branded home entertainment company (TechCrunch)
Unlike other essential blockchains like Solana or Ethereum, Hedera is one of the few platforms to consume less energy. It is therefore more of an ecological choice for the LG Electronics group.
“The Hedera network consumes far less energy, making it the perfect choice for sustainable initiatives and can meet the ESG of modern businesses and investors.”