South Korea-based digital manufacturer LG Electronics has launched a new NFT platform in collaboration with Hedera blockchain.

The platform, LG Art Lab, will allow users to buy, sell and place digital art or non-fungible tokens (NFTs) on their TVs, the company announced.

While Switzerland-based Tag Heuer in June became the first watchmaker to announce a tool that allows watch owners to display NFTs on their smartwatches, the Seoul-based TV company has become another leading company adding value to the NFT space with this new move. .

The company also announced that LG Art Lab is available on TV webOS 5.0 or later in the US.

The platform also allows users to preview artists’ profiles and their upcoming work, along with a countdown to their next NFT releases. Your market provides a place to trade parts.

The Hedera network is supported by the LG Art Lab, and transactions will take place through Wallypto, an LG proprietary crypto wallet for smartphones.

According to a report by Blockchain.News, LG Electronics is launching Wallypto as part of plans to expand its business reach to include platforms and software.

Wallypto will help the tech giant to enter the blockchain or NFT market in earnest.

According to the announcement, “it is also expected to actively create synergy effects by combining blockchain technology with existing flagship businesses such as home appliances and electric fields.”

Christian Hasker, CMO of Swirlds Labs, the developer of Hedera, said in a statement that the announcement will take NFTs “beyond being computer-based collectibles and become a work of art displayed like any other work of art.” inside the owner’s house. ”

Earlier this year, LG made it clear that it was considering an expansion campaign beyond home appliances to include blockchain, cryptocurrencyand medical devices as new sectors in its corporate charter.

During the company’s Annual General Meeting (AGM) held in March, shareholders approved these changes so that its new goals involve the brokering and sale of cryptocurrencies and the development and sale of blockchain-based software, reported Blockchain.News.

LG also partnered with blockchain platform Kakao Ground X and launched smart TVs with an NFT option in February this year.

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