NFTs are making their way into more and more devices, now LG Art Lab app for smart TVs allowing you to buy NFTs from the comfort of your living room.
LG is deploying non-fungible tokens (NFTs) to its TVs just months after Samsung announced the same. LG Art Lab, the company’s new NFT marketplace, allows you to “purchase, trade, and enjoy high-quality digital artwork” from your TV.
LG Art Lab brings NFTs to your smart TV
For the time being, only customers in the United States with an LG TV running webOS 5.0 or later may use the app, which can be downloaded via the TV’s home screen. You can use the portal to buy and sell digital works made available through LG’s NFT drops. The first one of these drops is planned to occur on September 22nd and comprises a pair of metallic-looking NFTs by artist Barry X Ball. The app is mostly empty, and there aren’t any NFTs available for purchase right now (unless you want to watch a video of Barry X Ball’s future NFT on loop).
However, once an NFT is available for purchase on the platform, LG claims you can scan the QR code that displays on the screen and then open the Wallypto app on your phone to make the deal. You must first acquire USD Coin (USDC), a stablecoin that is designed to be tied to the US dollar (and managed to maintain that peg when other stablecoins crashed).
LG’s NFT platform is based on Hedera, which bills itself as the “most widely used, long-lasting business public ledger for the decentralized economy.” Unlike the Ethereum or Solana networks that many prominent NFT markets offer, the Hedera network does not use the blockchain; instead, it employs a blockchain alternative known as hashgraph. LG is only one of numerous businesses that function as governing members of the Hedera network, with supporters stating the method is quicker and more efficient than blockchain transactions.
LG says it will continue to introduce NFTs from artists on a “weekly basis,” and that you will be able to view any NFTs you purchase through the LG Art Lab app. Like Samsung with its NFTs on TVs, LG appears to be expecting that consumers will show the NFTs on their TV while it’s not in use.
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