LG Launches NFT Platform For Smart TVs Powered By Hedera Network
South Korean electronics giant LG has launched an NFT platform for smart TVs, with the first NFT drop featuring New York-based sculptor Barry X Ball scheduled on September 22.
South Korea-based global electronics behemoth LG Electronics, on Monday, September 5, announced enabling the NFT (non-fungible token) functionality on its smart TVs. The platform, called LG Art Lab, uses the Hedera Network. In addition, the company will provide its eligible customers a software update to enable them to transact and showcase NFTs on their TVs.
Its industry peer, South Korea-headquartered Samsung Electronics, also launched the NFT functionality on its three TV models: Micro LED, Neo QLED, and The Frame, in January 2022. However, Samsung’s NFT platform is supported by the Nifty Gateway company.
LG TV Models Eligible For NFT Function
Select LG TVs running WebOS version 5.0 or the later versions will have access to the NFT platform from the home screen. In a press statement, LG said the new platform would act as a one-stop solution for viewing and trading NFTs.
The company said it would add new NFTs from various artists every month, and people could view them or show-off to their guests when the TV is not in use. Samsung also implemented a similar feature to showcase NFTs when the TV is not in use.