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LG Electronics has launched its own non-fungible token (NFT) platform, LG Art Lab.
Now available in the US on the company’s TVs running webOS 5.0 or later, and accessible directly from the home screen, the new platform allows users to buy, sell and enjoy high-quality digital artworks.
LG, of course, hopes this artwork will help consumers enjoy their TVs more, and it says the TVs are the perfect medium to display someone’s NFT collection. It’s a sign that big companies see NFTs as a step closer to mainstream adoption.
LG said it built the platform to make it easy and accessible for using NFTs. It includes the LG Art Lab Drops feature, which profiles artists and provides previews of new works coming soon to the platform. Meanwhile, Live Drops’ real-time countdown allows users to obtain a “just dropped” NFT.
LG’s new platform is based on the Hedera network, the most widely used, sustainable enterprise-level ledger for the decentralized economy, making buying and selling as easy as possible, with on-screen QR codes that allow users to quickly complete transactions through Wallypto – the crypto currency wallet for smartphones.
Once purchased, an NFT can be traded on LG Art Lab Marketplace where users can easily view the transaction history, while in My Collection they can see all their artworks. When displayed on the cinematic 16:9 aspect ratio screens of LG’s TVs, NFTs come to life in full.
LG Art Lab welcomes the first-ever digital artwork from renowned sculptor Barry X Ball. Famous for reinterpreting classical and modernist sculptures using the latest 3D scanning and printing technologies, Barry X Ball is now making his debut in the world of NFT art with unique digital works from the “Metal” series.
The first of these NFT works, which capture details used in the artist’s notable sculptures, will be available in the coming weeks through the platform’s LG Art Lab Drops feature, featuring “Stone” series and works by other artists added monthly.
To help users better understand their favorite NFTs and the creative minds behind them, the platform also presents informative artwork descriptions and short films that highlight the creative processes of the artists. Users can follow and learn more about each artist in the app’s profile feature, and get a chance to meet some of them at upcoming LG-sponsored art events.
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