LG Will Feature NFTs On Its Smart TVs

At the end of March, Samsung announced plans for its smart TVs to become portals for non-fungible token (NFT) discovery.

Now, LG is following suit with LG Art Lab, its new NFT marketplace where users can “buy, sell and enjoy high-quality digital artwork” from their television sets and screens.

LG's NFT app is currently available only to users based in the US who have an LG TV running webOS 5.0 or later.

The app can be downloaded from the TV's home screen and will feature LG's first NFT drop –– a collection from sculptor Barry X Ball –– on September 22nd.

When NFTs drop on the app, users will be able to scan the QR code that will appear on the screen and then open the Wallypto app (LG’s digital asset wallet) on their phones to complete the transaction.

To make a future purchase, users will need to purchase USD Coin -- a stablecoin that is intended to cohere to the US dollar.

LG's NFT platform is built on Hedera, which doesn’t operate on the blockchain like most NFT marketplaces, but instead uses an alternative called hashgraph. LG is one of several corporations that act as a governing member of Hedera, claiming it’s a faster and more efficient alternative to the traditional blockchain.

LG says NFTs will be added on a “monthly basis.”

As with Samsung, users will be able to view their purchased NFTs from the LG Art app, potentially using their TVs as large picture frames.

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