South Korean electronics firm LG has just launched its own new NFT marketplace, dubbed “LG Art Labs,” obtainable from right this moment to all US LG tv owners running webOS 5.0.
The electronics giant has launched its own NFT marketplace—the second South Korean television manufacturing titan to do so this year.
The “LG Art Labs” NFT marketplace has just been launched by LG, a South Korean electronics enterprise, and is now accessible to all US LG television owners running webOS 5.0. From the consolation of their houses, customers may buy, sell, and trade non-fungible tokens (NFTs) through the marketplace, which is available from the LG home screen. LG’s in-app cryptocurrency wallet, Wallypto, manages transactions on LG Art Labs.
The marketplace is accessible from the LG home screen and allows folks to purchase, sell, and trade non-fungible tokens (NFTs) from the comfort of their homes.
NFTs are tokenized blockchain representations of non-fungible assets, which suggests they’re distinctive and can’t get replaced. Within the tangible world, artwork and antiques are sometimes non-fungible; similarly, on a blockchain ledger, NFTs usually symbolize digitized artworks or collectibles.
Transactions on LG ArtLabs are dealt with by Wallypto, LG’s in-app crypto wallet developed by the Hedera network last September.
Hedera makes use of another distributed ledger system (DLS) to blockchain referred to as hashgraph, which boasts high speeds, high-functionality smart contracts, excessive vitality efficiency, and prices fractions of a penny to transact on.
LG applied to register the patent for Wallypto on August 12 this year.
Hedera and LG first teamed up back in 2020 when LG joined different tech heavyweights like Google, IBM, Deutsche Telekom, and Ubisoft on Hedera’s governing council.