{"id":13887,"date":"2022-09-05T14:38:25","date_gmt":"2022-09-05T14:38:25","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/09\/05\/lg-is-bringing-nfts-to-its-smart-tvs\/"},"modified":"2022-09-05T14:38:27","modified_gmt":"2022-09-05T14:38:27","slug":"lg-is-bringing-nfts-to-its-smart-tvs","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/09\/05\/lg-is-bringing-nfts-to-its-smart-tvs\/","title":{"rendered":"LG is bringing NFTs to its smart TVs"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/9\/4\/23336997\/lg-bringing-nfts-smart-tvs-cryptocurrency<\/a>
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Just months after Samsung announced that it\u2019s bringing non-fungible tokens<\/a> (NFTs) to its TVs, now LG\u2019s doing the same. The company\u2019s new NFT marketplace, called LG Art Lab<\/a>, lets you \u201cbuy, sell and enjoy high-quality digital artwork\u201d from your TV.<\/p>\n

For now, only users in the US with an LG TV that runs webOS 5.0 or later can access the app, which is available to download from the TV\u2019s home screen. Through the portal, you can buy and sell digital works made available through LG\u2019s NFT drops. The first one of these drops is set to occur on September 22nd and features a set of metallic-looking NFTs from sculptor Barry X Ball. <\/p>\n

Since I just so happen to own a compatible LG TV, I downloaded and tried out the app for myself… and there\u2019s not much going on there yet. The app is pretty empty, and there aren\u2019t any NFTs that you can browse through and buy right now (unless of course, you want to watch a video of Barry X Ball\u2019s upcoming NFT on loop, which I did over the course of writing this article). <\/p>\n

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Would you look at that? NFTs on TV!<\/em><\/figcaption>Image: LG<\/cite><\/p>\n

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But once there\u2019s actually an NFT you can buy from the platform, LG says you can scan the QR code that appears on the screen, and then open the Wallypto app on your phone to complete the transaction. Before you do that, you\u2019ll need to purchase USD Coin (USDC), a stablecoin that\u2019s supposed to be pegged to the US dollar (and managed to maintain that peg when other stablecoins crashed<\/a>).<\/p>\n

LG\u2019s NFT platform is built on Hedera<\/a>, which describes itself as the \u201cmost used, sustainable, enterprise public ledger for the decentralized economy.\u201d Unlike the Ethereum or Solana networks many popular NFT marketplaces support, the Hedera network doesn\u2019t operate on the blockchain \u2014 it uses a blockchain alternative, called hashgraph<\/a>. LG is just one of the several corporations that serve as a governing member<\/a> of the Hedera network, with proponents of the system claiming it\u2019s faster and more efficient than transacting on the blockchain.<\/p>\n

LG says it\u2019s going to keep adding NFTs from artists on a \u201cmonthly basis,\u201d and that you\u2019ll get to view any NFTs your purchase from the LG Art Lab app. Just like Samsung\u2019s doing with the NFTs on its TVs, it looks like LG is hoping users will display the NFTs on their TV when it\u2019s not in use (which sounds like a few extra bucks on my energy bill that I\u2019d rather not spend).<\/p>\n