LG Launches NFT Platform for Smart TVs in Partnership with Hedera

The NFT revolution will be televised thanks to LG Electronics & Hedera.

LG Launches NFT Platform For Smart TVs In Partnership With Hedera

The South Korean consumer electronics giant LG Electronics is making an entrance into blockchain technology and NFTs, as the corporation presents LG Art Lab in partnership with Hedera blockchain. Ultimately, LG Electronics has been on Hedera’s governing council for three years, so the company picked a trusted partner instead of any of the major blockchain companies.

Home Is Where the NFT Art Gallery Is

The TV makers aim to turn your living room television into a digital art gallery. The LG Art Lab features a digital art marketplace in collaboration with Barry X Ball Studios. Plugged in by Hedera blockchain, the new NFT marketplace will work on any LG OLED Smart TVs. Furthermore, the new app can be easily accessed through the Home Screen.

LG Art Lab can also import your owned NFTs, which is done through “My Collection.” All transactions can be seen on the NFT marketplace history, so trading your purchased NFTs just with the help of your TV is possible. However, the first one to introduce the innovation is rival Samsung Electronics. This was done in March, when Samsung partnered with Nifty Gateway to bring NFTs to compatible Samsung Smart TV sets.

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Besides showcasing works of well-known artists, the LG Art Lab platform will also have artist profiles, countdowns to new NFT collections, and news about future projects. Moreover, the transactions will be made through Hedera’s Wallypto wallet. The move is celebrated by Hedera’s founder, whose vision for the platform includes exclusive NFT collections from big names in the entertainment industry, such as Netflix or Disney+.

On the Flipside

Why You Should Care

Partnerships like this can expedite blockchain adoption, as LG Art Labs seeks to bring NFT trading to the comfort of one’s home. Smart TVs can be great for showcasing digital NFT art, as the picture quality and screen size is more suitable than a regular computer screen.

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Read about Samsung’s plans to launch a crypto exchange in 2023

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.