Buying an NFT via the TV is now possible with LG

News hardware Buying an NFT via the TV is now possible with LG

Despite the declining interest in the NFT market in recent times, several technology companies continue to develop uses of the technology across different media. After computers and smartphones, non-fungible tokens are appearing more and more on televisions. LG, the electronics giant, presented an application that integrates NFT functionality for smart TVs.

LG launches its NFT platform for some TVs

If we are used to using its famous digital certificates on a PC or smartphone, it is still less common to come across NFT technology on your TV. However, more and more TV manufacturers are turning to this type of service, after the speculative bubble that we have experienced around Virtual Art in the form of NFT.

After Samsung, it’s up to another TV market leader to invest in this new technology. LG, known for its OLED TVs, intends to offer NFT-related features. The South Korean electronics giant wants to offer this kind of innovation, not on one of its models, but on many of its smart TVs.

All this will be possible thanks to a new application compatible with multiple connected TVs. To respond to the competition, LG launches “LG Art Lab”, a platform on which it is possible to consult a catalog of various digital works in the form of NFTs.

Currently, the app appears to offer fairly light content and has few users. In full development, the platform is only available in the US on LG TVs running webOS 5.0.

As for the LG Art Lab catalog, the brand intends to develop it gradually by adding new NFT collections every month. To establish itself firmly in the field, LG has already planned offers and events dedicated to NFTs. The release of several editions of NFT was also announced for September 22, resulting from the collaboration with the sculptor artist Barry X Ball.

LG offers the purchase of NFT on TV

In addition to being able to observe and view your NFTs, through this platform it is possible in particular to purchase a non-fungible token directly via TV. To do this, simply scan a QR code with your phone to get the job associated with it. Once the QR has been scanned, the Wallypto app launches on the phone to validate the transaction.

Wallypto is simply LG’s signature crypto wallet. In short, LG offers an end-to-end in-house buying process, which is rare enough to notice. In fact, most of the major players entering the web3 universe generally appeal to different companies specializing in the crypto ecosystem to benefit from adapted solutions.

At the moment, the wallet and platform run on Hedera, a cryptocurrency based on Hashgraph, a competing technology to the blockchain that is considered faster and more scalable. This choice is surprising as most large collections operate on the Ethereum or Solana blockchain.

This announcement echoes similar features offered by Samsung-branded TVs, unveiled last April. By integrating NFT on televisions, these brands tend to democratize this latest technology. A wise choice as televisions seem to be a good option for displaying digital, sometimes animated works.

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