LG now plans to use NFT on it’s smart TVs

• LG is now using NFTs on its TVs.
• You can buy and sell digital works made available through LG’s NFT drops.
• The first of these drops, scheduled for September 22, will include NFTs from sculptor Barry X Ball.

LG is now using non-fungible tokens (NFTs) for its TVs, just months after Samsung revealed that it would do the same. With LG Art Lab, the company’s brand-new NFT marketplace, you can “purchase, sell, and enjoy high-quality digital artwork” right from your TV.

The software, which is available for download on the TV’s home screen, is currently only accessible to those in the US who possess an LG TV running webOS 5.0 or later.

You can buy and sell digital works made available through LG’s NFT drops through the portal. The first of these drops, which is scheduled for September 22, will include a collection of NFTs from sculptor Barry X Ball that have a metallic appearance.

LG claims that once the platform offers an NFT you can actually purchase, you can simply scan the QR code that displays on the screen and then launch the Wallypto app on your phone to complete the deal. You must first buy USD Coin (USDC), a stablecoin that is supposed to be pegged to the US dollar, before you can proceed.

Hedera, which bills itself as the “most used, sustainable, enterprise public ledger for the decentralised economy,” serves as the foundation for LG’s NFT platform. The Hedera network employs a blockchain alternative called hashgraph rather than the Ethereum or Solana networks, which several well-known NFT marketplaces use.

LG is only one of several businesses that make up the Hedera network’s governing body. Supporters of the system assert that it is quicker and more effective than doing transactions on the blockchain.

You will be able to view any NFTs you buy from the LG Art Lab app, according to LG, which claims it will continue to introduce NFTs from artists on a “weekly basis.” It appears that LG is hoping consumers will leave their NFTs on their TVs while they aren’t in use, much like Samsung does with its NFTs on its TVs.

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