LG Display Co.,Ltd LPL has launched its NFT platform LG art lab which allow users to buy, sell and display digital artworks right from their living room.
The message comes right after Samsung Electronics Co,Ltd SSNLF Step into the NFT room with the release of an NFT marketplace for its smart TVs. However, in a press conference about eight months ago, LG announced its plans to bring NFTs to TVs.
Launching today on all TVs running webOS 5.0 or later in the US, the platform is accessible directly from the TV’s home screen. According to LG, the platform is a “convenient one-stop solution” for NFTs.
LG intends to support the platform with numerous offerings and features. One such offering is LG Art Lab Drops, which profiles artists and previews upcoming artworks in “Drops.” These will also have a real-time countdown for live drops, so users can grab a new drop as soon as it’s available.
“While many people have heard of NFTs and want to be a part of the growing ecosystem, it can be complex and difficult to get started.” said the head of platform business at LG Electronics, Chris Jo. “LG Art Lab was designed to enable millions of users across the US to easily access and view NFTs without having to code themselves or interact directly with a blockchain.”
The Korea-based company has partnered with Hedera, which according to its website is the “most widely used, most sustainable public ledger for businesses for the decentralized economy.”
Unlike other popular NFT protocols like Ethereum ETH/USD or Solana SOL/USD, Hedera does not work on a blockchain. It uses an alternative called hashgraph and claims to be faster and more efficient than a blockchain protocol.
The partnership comes as no surprise as LG is one of the senior members of the Hedera network alongside Google, Deutsche Telekom and IBM
