About eight months have passed since LG Electronics stated at a press conference that it intended to include NFT features in its smart TV. The platform is currently only accessible from the home screen on LG TVs running webOS 5.0 or later in the United States.
LG Electronics and the Hedera network collaborated to create an app that lets users buy NFTs using Wallypto, LG’s mobile cryptocurrency wallet.
In 2020, LG Electronics joined the Hedera governing council, which also includes Google, IBM, Deutsche Telekom, the Indian Institute of Technology, and other organizations. This marked the beginning of the partnership between Hedera and LG Electronics.
The NFT platform offers a Drops feature that showcases artists and displays sneak peeks of their upcoming works. Users can receive notifications from its real-time Live Drops feature to help them acquire a dropped NFT so they don’t miss an opportunity.
Jo added that Hedera users can transact for less than 0.0001 cents per transaction (without a high gas fee or additional costs), indicating that the NFT platform has no additional fees.
He added that Hedera guarantees a low, predictable fee for users, in contrast to many other decentralized networks, so users can buy, sell, and display NFTs without worrying about the high energy consumption associated with other public networks.
IT and entertainment firms in South Korea are investing heavily in the non-fungible token (NFT) market. Samsung, a competitor of LG, unveiled its new NFT marketplace plan based on smart TVs in January. Samsung said it will add NFT features on Samsung TVs like MICRO LED and Neo QLED.
