LG Launches Its NFT Platform Called The LG Art lab
LG Electronics in collaboration with the Hedera network announced that it has launched its LG Art Lab non-fungible token (NFT) platform to enable users to buy and sell digital artwork on LG smart TVs today.
The company will make the purchase and sell of the NFTs through wallypto, the brand’s own crypto wallet for smartphones through the Hedera network support for the Last Lab.
The platform is now available in the US only for LG TV users running webOS 5.0 or later in the US and can be accessed directly from the home screen.
Senior vice president, and Head of platform business at LG electronics home entertainment company, Chris jo stated that wallypto is built on Hedera and has been developing since last September.
Despite a number of people looking forward to becoming a part of the evolving ecosystem of NFTs, starting with it might be tricky due to its complicated nature Jo added.
The platform also allows users to preview the profile of artists and their upcoming work, along with a countdown to their upcoming NFT release. Its marketplace is accessible from the LG screen and provides a venue for trading pieces.
Jo mentioned that Hedera allows users to transact for less than $0.0001 cent per transaction (With no high gas fee or hidden costs), meaning that there are no hidden costs associated with the NFY platform.