LG launches NFT platform for smart TVs

South Korean electronics company LG has launched an NFT marketplace for users to buy, sell and display digital artwork on its smart TVs. 

The NFT platform, LG Art Lab, is available on LG TVs running webOS 5.0 or higher and is accessible directly from their home screen, LG announced on September 5. The platform is available in the U.S. for now.

Users can scan QR codes that appear on the TV screen, and open the Wallypto app, LG’s own crypto wallet, on a smartphone to purchase NFTs. Secondary trading is possible on LG Art Lab where users can also view transaction history.

The NFT platform, which is based on the Hedera network, also includes a Drops feature that allows users to view artist profiles and preview new works coming soon to the platform. A real-time Live Drops countdown will help them catch the opportunities to acquire newly dropped NFTs.

To mark the platform’s launch, renowned US sculptor Barry X Ball is making his debut NFT artwork available via the LG Art Lab  Drops feature in the coming weeks, LG said.

South Korea’s tech and entertainment companies are jumping into the NFT space. In January, LG’s rival Samsung announced several new TV models that will include a new NFT marketplace.