LG brings NFTs to its LED and OLED TVs

During its long history, LG has never been shy about jumping on unusual trains. So it's no surprise that the South Korean electronics giant is getting into NFTs. Starting today, if you live in the US and have a webOS 5.0 or later TV, you'll have access to the company's new LG Art Lab platform. It is a marketplace for buying and selling non-fungible tokens available directly on your TV home screen. It is based on the Hedera network and uses LG's new Wallypto mobile wallet to store digital assets. There's even a countdown feature that will remind you when NFT drops are about to happen.

The timing of the addition is curious to say the least. Judging by the daily trading volume on OpenSea, the public has lost interest in non-fungible tokens. On August 28, the market processed $5 million worth of NFT transactions, down 99% from the record high of $405.75 million reached a few months earlier on May 1, 2022. During the same period, the floor price of some of the most sought-after NFT collections has also gone down. In early May, a Bored Ape Yacht Club token would have cost you at least 153.7 Eth (or around $434,000 with Ethereum's value at the time). By August 28, you could pick one up for as low as 73 Eth or just over $105,000.

Of course, this is LG we're talking about. It's the same company that gave us phones like the Wing and the V10 and has stayed in the mobile market far longer than any analyst would have said was a good idea. It's hard to say how long he plans to continue NFTs, but there's probably a C2 owner out there somewhere happy to show off his Bored Apes and fancy OLED TV at the same time.

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