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LG Electronics Enables Easy Access To NFTs Through LG Smart TVs

South Korean Electronics Giant, LG, has launched a Non-Fungible Token (NFT) it calls LG ArtLab. According to the announcement, LG ArtLab will be a convenient one-stop solution for buying and selling NFTs on LG Smart TVs. It will integrate the NFT marketplace into the user’s living room.

This is different from other blockchain-based NFT marketplaces that make it difficult for the everyday user to interact. With the LG ArtLab NFT, people can have the opportunity to interact easily using the LG Smart TVs that display NFT collections to mass audiences.

LG ArtLab Enables Users To Easily Interact With NFTs

The LG ArtLab uses the web OS 5.0 or later versions and runs on LG Smart TVs. It is available in the US and allows users to easily buy NFTs. Users who want to purchase these NFTs can simply scan a QR code to link their wallets. With this new technology, the home space can easily be used as a Digital Art Gallery with their LG Smart TVs.

Senior Vice President at LG Electronics, Chris Jo, stated that so many people are aware of NFTs and would love to participate and own one or more of them. However, getting started in the growing ecosystem can be difficult and extremely complex. But the new LG NFT makes things straightforward for users as they can easily access the NFTs from the comfort of their homes.

He added that LG Art Lab is designed to enable millions of users in the U.S to easily gain access to NFTs and display them as well. They don’t need to have any interaction with blockchain to enjoy the ownership of these NFTs.

The firm also said that crypto wallet Wallypto and its NFT platform will be supported by the Hedera Network. It will allow users to easily trade NFT with low charges and transaction fees, which brings a transformation experience to their living rooms.

LG Faces Stiff Competition From Samsung In The NFT Space

Before the announcement, LG has been creating inroads in the Web3 space. In 2019, it launched the LG-Pay digital wallet. In a January 2022 press release, the company said it was looking into the NFT space, which projected the launch of the LG ArtLab innovation.

The NFT space is already having serious players, which means LG will be facing stiff competition from other consumer electronics companies. Its major competitor Samsung also integrated NFT support earlier this year via the Samsung Gaming Hub.

Ali Raza

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