LG chooses the Hedera blockchain for its TV NFTs.Korea-based LG is releasing a non-fungible token (NFT) marketplace called LG Art Lab that plugs into the Hedera Network, which LG supports.
Television owners with sets updated to LG's most recent software will be able to buy, sell and showcase their Hedera NFTs from their screens. LG's strides into the NFT space follow Samsung's release of an NFT marketplace on three of its TVs, all supported by Nifty Gateway. LG Art Lab will only be on LG TVs. Incorporating LG's mobile crypto wallet Wallypto, users can purchase assets by scanning a QR code to connect their wallets.
The choice of Hedera is not an obvious one for an NFT integration. According to data from the past 30 days, Hedera NFT marketplace Hash Axis' $36,000 trading volume pales in comparison to Ethereum's $330 million trading volume on OpenSea. But it makes more sense for LG: it's been on Hedera's Governing Council since 2020.
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