LG Electronics

 

The consumer electronic company, LG, has announced plans to add non-fungible token (NFT) support on its smart televisions. The new feature will allow owners to buy, sell and showcase NFTs from their screens.

On September 05, LG confirmed plans to unleash a non-fungible token (NFT) marketplace dubbed “LG Art Lab” on the Hedera network. The new NFT marketplace will allow TV owners to buy, sell and showcase their Hedera NFTs from their screens.

LG Follows Samsung Footprints

The South Korean multinational conglomerate reportedly follows the footprints of its rival consumer electronics manufacturer Samsung, which added NFT support to its LED and smart TVs in April this year.

At the time, Samsung partnered with Nifty Gateway to launch an NFT marketplace that allowed TV owners to buy and sell digital collectibles. LG Art Lab features a mobile crypto wallet Wallypto app, which allows users to purchase digital assets. The NFT marketplace will require users to scan a QR code on the screen to connect their wallets.

LG And Hedera Integration

LG Electronics and Hedera began their partnership in 2020 when LG joined the Hedera governing council. The council included Google, IBM, Deutsche Telecom, and the Indian Institute of Technology, among others.

Hedera network is renowned for utilizing an energy-efficient consensus mechanism, making it an ideal blockchain for cheap, low-carbon footprint NFT transfers.

Under the renewed integration, LG Electronics anticipates bringing NFTs to television screens through its new NFT marketplace in Hedera chains. While commenting about the crypto development, Chris Jo, the Senior Vice President and Head of Platform Business at LG Electronics, remarked:

“While many people have heard of NFTs and would like to participate in the growing ecosystem, it can be overly complex and difficult to get started. LG Art Lab will 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.”

Elsewhere, as the NFT hype intensifies, Tamadoge continues to gain mainstream adoption. Tamadoge (TAMA) has raised more than $11.8 million from its token presale.

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