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Another company that makes consumer electronics is putting NFTs on TV screens.
LG, a company based in Korea, is putting out a marketplace for non-fungible tokens (NFTs) called LG Art Lab. It connects to the Hedera Network, which LG supports. If you have the latest software for your LG TV, you will be able to buy, sell, and show off your Hedera NFTs from your screen.
After Samsung released an NFT marketplace on three of its TVs, all of which were supported by Nifty Gateway, LG took steps in the same direction. Only LG TVs will have LG Art Lab. Using LG's mobile cryptocurrency wallet Wallypto, users can buy assets by connecting their wallets by scanning a QR code.
Chris Jo, Senior Vice President and Head of Platform Business at LG, told CoinDesk in an email that the platform's goal is to make NFTs accessible to users who want to get into the space.
The choice of Hedera for an NFT integration is not a clear one. Based on data from the last 30 days, Hedera NFT marketplace Hash Axis' $36,000 trading volume pales in comparison to Ethereum's $330 million trading volume on OpenSea. But LG has been on Hedera's Governing Council since 2020, so it makes more sense for them to do it.
Shayne Higdon, CEO of the HBAR foundation, an organization that helps developers on the Hedera network, told CoinDesk that Hedera's energy-efficient consensus mechanism makes it a great blockchain for cheap NFT transfers with a small carbon footprint. Still, other networks are catching up. This month, Ethereum, the market leader, is switching to proof of stake.
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