Owners of recent LG OLED TVs in the US can now buy, sell and view NFT-based digital artwork directly on their TV screen.
Like Samsung, LG is now into non-fungible token (NFT). LG has launched its own NFT platform called LG Art Lab, based on the Hedera network.
- "LG Electronics (LG) has launched its very own non-fungible token (NFT) platform, LG Art Lab. Now available in the U.S. on the company’s TVs running webOS 5.0 or later, and accessible directly from the Home Screen, the new platform enables users to buy, sell and enjoy high-quality digital artwork. Delivering outstanding picture quality and offering several, large screen sizes to choose from, LG’s state-of-the-art TVs are the perfect medium for displaying one’s NFT collection," the company announced.
What is NFT digital art? In essence, it is digital artwork that is backed by a blockchain technology so you own the specific piece – and can sell it later on. Of course, that does not prevent people on the internet from having a .jpeg or .mp4 file of the same artwork.
The LG Art Lab interface for NFT art shown on LG C2. Photo: LG
WebOS 5.0 is found in 2020 LG models so you need an LG LCD or OLED TV from 2020, 2021 or 2022. LG is not upgrading its Smart TVs to newer generations of webOS after the sale so 2019 models are stuck on webOS 4.5, 2018 models are stuck on webOS 4.0, and so on.
Once purchased, an NFT can later be traded on LG Art Lab Marketplace, the company explained. LG is launching the platform with digital art from various artists including sculptor Barry X Ball.
LG did not comment on its plans to launch NFT on its TV is regions outside the US.
