menuIcon
$ 94,801.6
BTC
$ 94,801.6
-0.66 %
$ 1,825.29
ETH
$ 1,825.29
-0.06 %
$ 0.6706
ADA
$ 0.6706
-1.85 %
$ 600.02
BNB
$ 600.02
1.84 %
$ 146.73
SOL
$ 146.73
0.09 %
Gungun Bhatia
Sep 5, 2022
by Gungun Bhatia

LG Electronics Introduces LG Art Lab NFT Platform With Hedera

LG Art Lab

Table of contents

  1. Collaboration Of LG And Hedera
  2. Creation of Mobile Cryptocurrency Wallet - Wallypto
LG Electronics, a television company - headquartered in Seoul, has created a new NFT platform using the Hedera blockchain. The platform used by the business is known as LG Art Lab. According to a statement given today, it will allow users a method to purchase, sell, and show digital art in the form of NFTs on their televisions.

Collaboration Of LG And Hedera

The collaboration between Hedera and LG Electronics commenced in 2020, when LG joined the Hedera governing council, including Google, IBM, Deutsche Telekom, and the Indian Institute of Technology (IIT).

LG is not the first significant company to notice the potential in the NFT market. In June, the Swiss watchmaker Tag Heuer unveiled a new technology that allowed users to show NFTs on the screen of specific smartwatches.

According to the statement, webOS 5.0 or later televisions may access LG Art Lab in the US. It features a section with artist biographies and teasers of forthcoming work, as well as a countdown to looming NFT "drops." Trading can take place on the platform's marketplace.

Creation of Mobile Cryptocurrency Wallet - Wallypto

LG Electronics and the Hedera network collaborated to create an app that lets users buy NFTs using Wallypto, LG's mobile cryptocurrency wallet. The Hedera network serves as the platform's backbone, and the transactions are executed through Wallypto, an LG-patented cryptocurrency wallet for smartphones that is currently in the beta testing phase.

Christian Hasker, CMO of Swirlds Labs, the company that developed Hedera, stated,

"The announcement will bring NFTs beyond being computer-based collectibles and toward becoming a piece of art displayed as any other artwork would be within the home of its owner."
Follow us on: News
LG Electronics NFT Hedera blockchain LG Art Lab Wallypto
LG Electronics Introduces LG Art Lab NFT Platform With Hedera
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks