LG will support NFTs on its TVs. The so-called LG Art Lab app will feature a gallery of NFTs that users can purchase and display as a wallpaper on their TV. LG follows Samsung, which announced the same plans earlier this year.
US users are the first to the function can utilize. Outside of the US, the feature and its website are not available. The Art Lab requires an LG model with webOS 5.0 or newer. In practice, these are LG TVs from 2020 or later. Users can view in the app which NFT they would like, after which they see a QR code. If they scan it with the Wallypto app, they get the opportunity to buy the NFT on their phone. Wallypto is a digital asset wallet that is also from LG. That writes including The Verge.
Transactions are made with USDC, a stablecoin pegged to the US dollar. The nft’s are available in the form of drops. Those are small loads of NFTs that appear in the store at the same time. The first drop will take place on September 22, and other drops will follow monthly. Until then, the store is still empty, reports The Verge, who tried the store.
The underlying public ledger for this store and nft’s is Hedera. That does not work on the blockchain, but on an alternative called hashgraph. LG is itself a board member of the Hedera network. Samsung came in may with nfts for his TVs.