The famous electronics brand LG has announced a partnership with the Hedera network – both companies will work together to launch an NFT art lab. The new platform lets users buy, sell, and trade their NFTs via smart TVs. According to The HBAR Foundation, the NFT platform is integrated into LG’s smart TVs.
LG hinted that they would bring NFTs into their TVs, and now they’ve finally done it. Interestingly, LG isn’t the first electronics giant to join the metaverse. Samsung has also been active in the blockchain space. Recently, Samsung announced a crypto exchange in South Korea.
This partnership will introduce the less-known yet efficient Hedera network to a wider audience. Chris Jo, SVP and Head of platform business at LG, stated the following:
“Wallypto, built on Hedera, has been developing since September 2021. Its beta version of the wallet launched this week in august. While many people have heard of NFTs and would like to participate in the growing ecosystem, it can be overly complex and difficult to get started. 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 feature can be accessed on the home screen. Only those in the US can access this feature as of yet. Additionally, you can only access this feature if your TV is running the webOS 5.0 or later. Users can also set an alert for their favorite projects to notify them when they’re available for sale.
LG states that choosing the Hedera network was inevitable. The network is unbelievingly fast, and the users have to pay less than $0.0001 in gas fees. Also, the network is carbon-negative as it does not burn an insane amount of energy when processing transactions.