- LG Electronics announces the launch of an NFT platform LG Art Lab
- Senior Vice President at LG Chris Jo says that LG Art Lab will be the gateway for the NFT marketplace for millions of users in the U.S.
- Hedera is energy-efficient and transaction fees will cost as low as $0.0001 with no hidden charges.
LG Electronics announced the launch of its new NFT platform, LG Art Lab. The announcement came approximately after eight months since LG said in a press conference that it will incorporate an NFT platform in its Smart TV lineup.
Blockchain provider Hedera, LG Electronics’ governing council member, shared on Twitter:
Governing Council Member @LGElectronics has launched LG Art Lab – built on @Hedera – enabling LG TV owners to buy, sell and showcase #HederaNFTs from their screens. All LG TVs running webOS5.0 will be able to interact with the LG Art Lab app. #HelloFuturehttps://t.co/KQBUgaE2j5
— Hedera (@hedera) September 5, 2022
For now, LG enables users in the U.S. running webOS 5.0 or later versions to access the NFT marketplace from the home screen. Users will be able to discover, buy, sell and trade NFTs.
LG’s mobile crypto wallet Wallypto is the selected wallet to complete all transactions through QR codes.
Chris Jo, Senior Vice President, and head of platform business at LG Electronics home entertainment company, spoke about how LG Art Lab simplified the complexity of accessibility to the NFT platform.
Jo stated:
LG Art Lab is designed to allow millions of users in the U.S. to easily access and display NFTs, without having to interact with code or directly with a blockchain themselves.
The LG Art Lab Marketplace will feature profiles of artists and previews of upcoming creations slated to be released. It will also have a countdown to NFT drops which will include a short film that is designed to hint at the creative process behind the artwork.
Jo furthermore revealed that, unlike the other public network which consumes a lot of energy, Hedera was energy-efficient. He said that users could do transactions on Hedera for as little as $0.0001, per transaction and Jo ensured that there was no hidden cost such as gas fees, etc.
Barry X Ball, a popular sculptor who translates classical sculptures using traditional techniques, 3D scanning, and other printing technology, will launch his first digital creation on LG Art Lab in the coming weeks.
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