LG Electronics has launched its own non-fungible token (NFT) platform, LG Art Lab. Now available in the US on the company’s televisions 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 artwork.
Of course, LG hopes these works of art will help consumers get more out of their TVs and claims they are the perfect medium to showcase its digital art collection. This is a sign that large companies see NFTs on track for mainstream adoption.
LG said it has built a platform to make using NFTs convenient and accessible. It includes the LG Art Lab Drops feature, which showcases artists and previews new works that will soon be available on the platform. Additionally, Live Drops’ real-time countdown allows users to acquire a “just released” NFT.
LG’s new platform is based on the Hedera network, the most widely used, enduring and enterprise-grade ledger for the distributed economy. It makes buying and selling as easy as possible by integrating QR codes on the screen that allow users to quickly transact via Wallypto, the company’s cryptocurrency wallet for smartphones.
Once purchased, an NFT can be traded on the LG Art Lab Marketplace, where users can easily view their transaction history, while in My Collection they can see all the artwork they own. When viewed on the 16: 9 aspect ratio cinema screens of LG TVs, NFTs come to life.
A first work by Barry X Ball
LG Art Lab hosts the first ever digital artwork by famed sculptor Barry X Ball. Famous for reinterpreting classical and modernist sculptures using the latest 3D scanning and printing technologies, Barry X Ball is making his debut in the NFT art world with unique digital works from the “Metal” series. .
The first of these NFT works, which capture the details used in the artist’s stunning sculptures, will be available via the platform’s LG Art Lab Drops feature in the coming weeks. The “Stone” series and the works of other artists will be added monthly.
To help users better understand their favorite NFTs and the creative minds behind them, the platform also includes informative descriptions of artworks and short films that shed light on artists’ creative processes. Users can follow and learn more about each artist in the app’s profile feature and will have the opportunity to meet some at upcoming LG sponsored art events.