LG makes room for NFTs in its LED and OLED TVs

LG’s entry into the world of NFTs is confirmed with the integration of a marketplace. In the United States, some of the brand’s televisions allow the purchase, sale or exchange of non-fungible tokens.

At the beginning of the year, Samsung announced that it wanted to put NFTs in its televisions. Like other sectors, the world of televisions positions itself on “buzz words” with the idea that they go beyond this framework. The eternal rival LG was quick to react by mentioning its arrival in the world of cryptocurrencies. While the manufacturer had not necessarily detailed its plan, we now learn of the integration of NFTs into the brand’s televisions.

The South Korean giant is used to positioning itself where we do not necessarily hear it. It is therefore not totally a surprise to see him embark on the NFT adventure. In the USA, LED and OLED TVs that have webOS 5.0 or newer can access the LG Art Lab, LG’s new NFT platform. It takes the form of a marketplace based on the Hedera project; allowing users to buy or sell non-fungible tokens from the TV home screen. QR codes will be used to complete transactions via the Wallypto wallet.

LG wants to believe in NFTs, but moves slowly

Mentioned at the beginning of the year, the development and implementation of the platform will have required around eight months of work for the brand. Meanwhile, the momentum for NFTs is running out of steam and the volume of transactions has fallen sharply in recent months. It’s also not sure that this feature was actually expected by LG TV owners.

LG Art Lab NFT
© LG

On the TechCrunch site, one of the managers of the South Korean firm explains: “While many people have heard of NFTs and want to participate in this growing ecosystem, it can be overly complex and difficult to get started.” “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”adds Chris Jo.

For now, the platform is not only available in the United States. LG does not yet mention availability in other regions, especially in Europe.

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