LG is integrating the NFT marketplace into its TVs. LG Art Lab may appeal to some users.
In its long history, LG has never been the last to follow any trend, even the weirdest one, if you will. Therefore, it is not surprising that the South Korean electronics giant is embarking on NFTs today. Starting today, if you live in the US and have a TV running webOS 5.0 or later, you have access to LG’s new Art Lab platform.
LG integrates NFT marketplace into its TVs
LG Art Lab is a marketplace for buying and selling non-fungible tokens (NFTs) right from your TV home screen. It is based on the Hedera network and uses the new LG Wallypto mobile wallet to store digital assets. There is even a countdown feature that will remind you when the NFT drops.
On the other hand, the timing of adding this feature is quite curious, to say the least. Judging by the trading volumes on OpenSea, the largest NFT exchange to date, the general public seems to have lost interest in these non-fungible tokens. On August 28, the market registered “only” $5 million in NFT transactions, which is 99% less than the all-time high of $405.75 million just a few months ago on May 1, 2022, to be exact.
Some users may like LG Art Lab
Over the same period of time, the floor price of some of the most famous NFT collections has also plummeted. At the beginning of May, a Bored Ape Yacht Club token would guarantee you at least 153.7 Eth (or about 438,000 euros at the time). On August 28, it could be bought for “only”73 Eth (just over 106,000 euros).
Of course, today we are talking about LG. The same company that gave us phones like the Wing and the V10 and stayed in the mobile market for much longer than any analyst thought. However, it’s hard to say how long the brand intends to continue the NFT path, but there’s probably an LG C2 owner here or there interested in the easy possibility of displaying their bored monkeys on their new OLED TV.