LG Electronics has released its non-fungible token (NFT) platform LG Art Lab, which lets users discover, buy,
sell and trade NFTs on LG’s smart TVs. The announcement comes roughly eight months after LG Electronics said at its press conference that it plans to incorporate NFT features into its smart TV. The platform is now available in the U.S. only to those with LG TV running webOS 5.0 or later and is accessible directly from the home screen, according to best online pokies Australia.
“Wallypto, built on Hedera, has been developing since September 2021,” Chris Jo, senior vice president, head of platform business at LG Electronics home entertainment company, told TechCrunch. “Its beta version of the wallet launched this week in August.”
The partnership between Hedera and LG Electronics was initiated in 2020 when LG joined the Hedera governing council that includes Google, IBM, Deutsche Telekom and the Indian Institute of Technology, and more. “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,” Jo said. “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.”
What does the new LG Art Lab (opens in new tab) mean for creators?
Essentially it’s going to remove even more obstacles between NFT collection and selling, enabling everyone who owns an LG TV that supports WebOS 5.0 or higher to access new digital art. Accessibility is a major factor for LG’s approach – it will use LG’s own mobile crypto wallet Wallypto and NFTs can be bought by just scanning a QR code and then traded on the LG Art Lab Marketplace. LG is removing barriers to entry, and that’s a big deal.
LG’s app will also feature the LG Art Lab Drops function that shares timings of new NFT drops and project details; a live countdown ticks by to show users when new art will go live. While NFT art is successful because it’s decentralised, the more the likes of LG and Samsung join the fray the more the scene becomes curated – which is no bad thing. Other NFT displays, such as Netgear’s excellent Meural Canvas II, offer similar organised art collections to simply view or buy. Read up on the Canvas II in our guide to the best NFT displays from machines a sous casino.
While LG is making headlines today for its introduction of NFT art through its TVs, a look at who’s supporting Hedera via the Hedera Council reveals there are some major companies lining up to get into NFTs in the future; the likes of Google, IBM and Ubisoft are all involved.
To launch LG Art Lab the TV making has partnered with sculptor Barry X Ball (opens in new tab), who is known for making use of 3D scanning technology to interpret modernist and classical sculpture in new and interesting forms. His first NFT project, called Metal, is launching via the LG Art Lab app. This will be followed by a second NFT drop, called Stone. New NFT art will be added at regular intervals for collectors.
If you are looking for a new TV, then take a look at our regularly updated price list if the best LG deals right now, as well as the best TVs generally available now. Also, Samsung’s The Frame deals are available, and this is one of the best current TVs for NFTs and for viewing digital art.
