LG Electronics brings NFTs to the world’s living rooms

South Korean electronics giant LG launches its own NFT marketplace “LG Art Labs”. The platform is aimed at American users, who can now present and negotiate their digital art via the TV device. The world’s largest TV manufacturer, Samsung, also claims a piece of the pie.

The sixth largest electronics manufacturer LG sells the most televisions worldwide after Samsung. Almost 1.7 billion people own a television – Samsung and LG claim 33% of the market. Internet-enabled devices now allow users to trade and present NFTs through the television.

What users can expect…

LG Electronics’ internal crypto wallet is called “Wallypto” and handles NFT transfers via QR codes. This allows end users to both shop and admire their artwork directly from the screen. With the simplest possible handling, LG offers its users uncomplicated access to new technologies.

Advocates and supporters of the crypto scene look forward to a bright future full of NFT applications:

According to Chris Jo, the LG Art Lab was designed “to allow millions of users across the US to easily access and view NFTs without having to code themselves or interact directly with a blockchain.”

According to crypto Twitter, the LG wallet also opens up trading beyond blockchains other than Hedera.

This inspires users…

Especially with low ones price per transaction from less than 0.0001 dollar cent and a lot low energy consumption The Hedera network convinced the world-renowned electrical manufacturer.

“The Hedera network uses significantly less power than any other public ledger, making it an ideal choice. Users can buy, sell and view NFTs without worrying about the high energy consumption,” said Chris Jo, senior vice president and head of platform business at LG Electronics Home Entertainment Company.

How did Hedera convince LG?

LG attaches great importance to providing users with an affordable and environmentally friendly NFT platform. Because these two topics have been driving the crypto world for some time.

But the possible network effects and the project density of the Hedera Hashgraph Blockchain are also noteworthy: the “Hedera Global Governing Council” includes major players such as Google, IBM, Deutsche Telekom, Boeing and Chainlink Labs. In this “most used, sustainable public ledger for companies in the decentralized economy”, LG joined in 2020.

NFTs are taking over the living rooms of the world

as largest electronics manufacturer in the world Samsung is a technological pioneer. On January 3, 2022, Samsung announced an “NFT platform”.

“This application provides an intuitive, integrated platform for discovering, purchasing and trading digital artworks,” Samsung Newsroom announced.

It’s only a matter of time before the competition catches up. With Samsung and LG on the way out the two champions among the TV producers in the NFT space Before.

It becomes clear: The NFT market is attracting the attention of the technology sector! The biggest players are addressing the problem, because the billion-dollar market can no longer be overlooked. Despite falling prices, a crypto crash and mixed forecasts for the NFT sector, market leaders are investing in blockchain-based technologies.

FIFA+ Collect as a game changer?

The world’s largest football association, FIFA, offers a platform for NFT collectibles for the World Cup with FIFA+ Collect.

“This exciting announcement makes FIFA collectibles accessible to every football fan and democratizes the opportunity to own a piece of the FIFA World Cup. Like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments and more on new platforms,” said FIFA Chief Business Officer Romy Gai.

According to the FIFA report, FIFA+ Collect Available from the start on all web and mobile devices be. TV units are not named. But there may be an important use case for LG and Samsung hidden here.


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