LG Electronics allows users to buy and sell digital artwork
The Hedera network and LG teamed up to enable NFT purchases with LG's crypto cryptocurrency wallet
The debut of LG Art Lab, a non-fungible token (NFT) platform that enables users to discover, obtain and trade NFTs on LG smart TVs, was announced by LG Electronics.
The Hedera network and LG Electronics worked together to develop an app that enables NFTs trade using Wallypto, LG’s mobile cryptocurrency wallet.
LG Electronics had previously stated that it was willing to incorporate NFT technologies in its smart TV. The platform is currently only accessible from the home screen on LG TVs running webOS 5.0 or later in the US.
Two years ago, LG Electronics joined the Hedera governing council. The Hedera Network is the ideal solution for sustainable initiatives and can meet the ESG standards of modern businesses and investors because it consumes much less energy than other public ledgers.
In contrast to many other decentralised networks, Hedera offers consumers a predictable fee, allowing users to buy, sell, and display NFTs without being concerned about the other public networks’ exorbitant energy use.
IT and entertainment firms in South Korea are investing heavily in the non-fungible token market (NFT). Samsung presented its new smart TV-based NFT marketplace smart TVs at the beginning of the year.
