LG launches Art Lab as its NFT marketplace

LG launches Art Lab as its NFT marketplace

LG has announced that it is jumping on the NFT bandwagon by introducing its own NFT platform called the LG Art Lab. The platform is similar to any NFT marketplace that lets users sell and purchase Non-Fungible Tokens (NFTs) and display them on their TV screens. This feature is available to LG TVs with webOS 5.0 and above in the United States.

The company blog post elaborates on how users can display NFTs in the 16:9 aspect ratio on their OLED TVs via LG Art Lab. The feature is accessible from the TV Home Screen and lets users explore profiles of artists or preview artworks in the making. Users also have access to a real-time Live Drop timer that helps them see the latest NFTs. LG Art Lab is powered by the Hedera blockchain network, which the company claims is more sustainable and commonly used by individuals.

The platform uses QR codes for transactions via Wallypto – LG’s cryptocurrency wallet app. Users can also view their previous transactions and manage their purchases under the My Collection tab. One of the first artists featured in LG’s NFT marketplace is Barry X Ball, who creates sculptures using printing and 3D scanning technologies. This particular NFT series will drop in the next few weeks, while more artists will join the platform on a monthly basis.