Throughout its long history, LG has never been afraid to jump on some unusual moves. So it’s no surprise that the South Korean electronics giant is getting into NFTs. Starting today, if you live in the US and have a TV running webOS 5.0 or higher, you can access the company’s new LG Art Lab platform. It’s a marketplace for buying and selling non-fungible tokens available right from your TV’s home screen. It is based on the Hedera network and uses LG’s new Wallypto mobile wallet to store digital assets. There’s even a countdown feature to remind you when NFT drops are about to occur.
The timing of the addition is odd, to say the least. Judging by the daily trading volume on OpenSea, the public has lost interest in non-fungible tokens. On August 28, the marketplace processed $5 million worth of NFT transactions, down 99 percent from the record high of $405.75 million it had seen just months earlier on May 1, 2022 The most coveted NFT collections have also declined. In early May, a Bored Ape Yacht Club token would have set you back at least 153.7 Eth (or about $434,000 at Ethereum’s value at the time). Until August 28th, you could buy one for as little as 73 Eth, or just over $105,000.
Of course we are talking about LG here. It’s the same company that gave us phones like the Wing and V10 and has stayed in the wireless market for far longer than any analyst thought was a smart idea. How long NFTs are scheduled to be tracked is hard to say, but chances are there’s a C2 owner out there somewhere excited to show off their bored monkeys and fancy OLED TV at the same time.
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https://www.engadget.com/lg-art-lab-announced-010033972.html?src=rss LG brings NFTs to its LED and OLED TVs