NFT marketplace from LG! – BusinessToday

The Korea based LG Electronics have stepped foot into the NFT space, using the help of the Hedera Blockchain. The electronics company will be making their own NFT marketplace available to all of its customers, who have their LG Televisions upgraded to the latest version.

The NFT Marketplace by LG, known as the LG Art Lab will be plugged into the Hedera Network.  Users will be able to access the NFT feature only via the Television sets from LG. All they have to do is incorporate LG’s mobile crypto wallet; Wallypto. Once done, they can purchase assets by simply scanning a QR code!

Hedera Blockchain is an unusual choice, given the more commonly used Ethereum Blockchain for NFT ventures. The choice of the blockchain happened to make sense as LG has been a part of the board for Hedera Blockchain since 2020.

However, LG is not the first to dive into NFTs. One of the biggest tech companies of Korea; Samsung, has also announced the launch of an NFT marketplace onto 3 of its TV models back in January 2022. All of these are supported by Nifty Gateway.

NFTs are a kind of digital token that represents the real world or the virtual world. One can buy, sell, trade, or collect NFTs within the special trading platform called the NFT Marketplace.

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