LG has launched its own NFT platform, LG Art Lab.
The electronics giant decided it was done with just making kick-ass TVs and other innovative products for your home, and that it was time to dip its toes into the world of the non-fungible.
LG Art Lab will be found on LG’s TVs running webOS 5.0 or later. Like Samsung’s unfortunate NFT encouragement feature, the LG Art Lab is accessible directly from the Home Screen. The new platform, LG said, enables users to “buy, sell and enjoy high-quality digital artwork”.
“A convenient, one-stop solution for viewing and trading NFTs at home, the platform includes the LG Art Lab Drops feature, which profiles artists and previews new works coming soon to the platform,” LG wrote.
“Meanwhile, the real-time Live Drops countdown ensures users never miss an opportunity to acquire a ‘just dropped’ NFT.”
The good news is that, for now, the NFT platform is only available on U.S. TVs.
LG’s new platform, based on the Hedera network, uses onscreen QR codes that let users complete transactions via Wallypto: the company’s cryptocurrency wallet for smartphones.
Once purchased, an NFT can be traded on the LG Art Lab Marketplace, where users can view transaction history, and in ‘My Collection’ they can, as LG says, “admire all of their owned artworks”. Literally why?
Anyway, LG also said that when displayed on the “cinematic” 16:9 aspect ratio screens of LG’s TVs, NFTs “come fully to life – especially on the company’s OLED TVs, which leverage self-lit pixels to deliver infinite contrast, inky blacks and exceptional colour accuracy”.
OLED is good, NFTs….