The NFT platform, launched by LG Electronics, enables users to purchase and sell digital artwork

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Published on 09/06/2022

 

NFT platform launched by LG

The debut of LG Art Lab, LG Electronics Inc.'s own non-fungible token (NFT) platform, was announced on Monday. The new platform, already accessible in the US, enables users to show, buy, and sell digital art from the TV's home screen.

The platform has an LG Art Lab Drops feature that provides artist bios and sneaks peeks at upcoming content. Users are informed about newly released NFTs by the real-time Live Drops countdown. The Hedera network, the most popular enterprise-grade public network, serves as the foundation for the LG Art Lab.

The Hedera Governing Council comprises some of the world's most innovative businesses. Each member is dedicated to developing Hedera and launching competitive use cases on the sustainable, low-cost, and enterprise-grade public ledger, according to Christian Hasker, CMO of Swirlds Labs, the group behind the Hedera network.

The LG TVs feature onscreen QR codes that enable customers to conduct transactions using Wallypto, the company's mobile digital asset wallet.

After making a purchase, an NFT owner can exchange the token on the LG Art Lab Marketplace, where customers can check their transaction history and take in their collection on OLED TVs with self-lit pixels.

The New York-based artist is renowned for employing conventional methods and the most up-to-date 3D scanning and printing technology to rework classical and modernist sculptures.

His Metal series will be made accessible through the platform's LG Art Lab Drops feature in the coming weeks, capturing the textures, intricacies, and materials utilized in the artist's actual sculptures. Later months will see the platform's addition of his Stone series.

About LG Electronics

Consumer electronics and home appliances are produced and sold by LG Electronics Inc. (LG Electronics), a division of LG Corp. Televisions, monitors, personal computers, refrigerators, home, and business air conditioners, and vacuum cleaners are among the company's product offerings. Additionally, it provides solar panels, cellphones, information displays, motor and sensor components, equipment manufacture, optic solutions, automotive components, camera modules, substrates, and materials. Different business-to-business solutions are available from LG Electronics. The business is present across the USA, the Middle East, Asia, and the Pacific. Seoul, Republic of Korea, serves as the corporate headquarters for LG Electronics.

The business is committed to providing goods and services that improve the quality, simplicity, and happiness of people's lives via enhanced functionality and enjoyment.

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Peter Daniels
Peter Daniels is the lead journalist for InsiderApps.com


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