LG Electronics recently unveiled its non-fungible token (NFT) platform for U.S. customers who own LG TVs with webOS 5.0 or later.
How does LG Art Lab work?
Built on Hedera, an open-source, sustainable, enterprise-grade blockchain network, LG Art Lab can be accessed from the Home Screen of your LG smart TV.
You can either view NFT collections on your TV or scan QR codes to make a purchase via Wallypto, LG’s cryptocurrency wallet. Your purchased NFT can then be traded on the LG Art Lab marketplace or displayed on your LG TV.
The NFT platform also has a “Drops” feature which enables users to gain an in-depth understanding of NFT creators through informative descriptions and short films that detail the artist’s creative process. The real-time Live Drops countdown allows users to acquire new NFTs immediately after they are launched on the marketplace.
One of the first NFT artworks that are to be featured in LG Art Lab in the coming weeks is a “Metal” digital artwork collection created by renowned sculptor Barry X Ball. This is the same artist who rose to fame by reinterpreting classical and modernist sculptures using the latest 3D scanning and printing technologies.
A “Stone” series will also be launched soon after the “Metal” collection, with new works by other artists being added to the platform on a monthly basis.
Why having NFTs on a big screen is a big deal
NFTs or Non-Fungible Tokens are essentially digital tokens that let people know you own real-world assets such as artwork, images, video clips, music, or even real estate.
By tokenizing your real-world assets; purchasing, selling, or trading these assets becomes far easier and not-to-mention more secure.
Bringing NFTs to your large screen TV like what LG is doing now and what Samsung did just a couple of months back, means that you no longer need to limit viewing, buying, and selling artwork to just smartphones and computers. Instead, you get to view and admire your NFTs in all their glory on the big screen.