Non-Fungible Tokens, or NFT in short, has been all the rage these days. Technically, it is no more than a digital asset with a unique digital signature attached to it. That also means that each NFT can be created as unique products of their own thanks to the wonders of a technology we call blockchain. It is the same technology that birthed cryptocurrencies that we know today.
While NFTs in grander schemes of things may not seem like a significant thing, it is a digital artists paradise. The ability to attach unique digital signatures to their creations means that they can create a digital artwork that can only be used by people who own the digital signature. Anyone who has the artwork in their smartphones without the digital signatures are technically thieves or using duplicates. It is kind of like viewing the Mona Lisa in its final resting place in the Louvre Museum in Paris, and a replica of it in Malaysia’s National Museum; they are different things.
NFT artwork is regarded as the modern art market today. The best part about NFT art is that because they are non-tangible, you can view them and display them anywhere you want them. You can set them to your smartphone’s wallpaper, if you like. Samsung and LG think that you might want them on your TVs.
Samsung announced a few months ago that their TVs will be one way of proudly displaying the NFT that you might have purchased. We think that the Samsung The Frame TV line-up will be the perfect place to properly display your beautifully and uniquely made NFT for times to come. LG also agrees with that and announced that their upcoming and existing TVs with WebOS 5.0 will be an NFT gateway for its users.
When you update your compatible TVs with WebOS 5.0, you get a new app on the TV interface. The app is called LG Art Lab and it is LGs one stop shop for all things NFT for your TV. You can buy and even sell NFTs on the marketplace. Your bought NFTs can be displayed on your TV as a wallpaper or screen saver. The portal also has a countdown function for new NFTs that are being released or scheduled to be released. The first of which is dropping on the 22nd of September 2022.
Unlike other NFTs though, the LG Art Lab does not operate on top of Ethereum or other popular blockchain technology. In fact, Art lab does not on top of blockchain at all. Instead, the platform is based on Hedera, a hashgraph network. LG claims that the Hedera network is much more efficient than blockchain based networks.
To purchase your NFTs on the Art Lab, you do have to have a an existing Wallypto app. You simply scan a QR code provided by Art Lab for a particular NFT to purchase it with the Wallypto app. You also need to own some USD Coin, a sort of stablecoin that is supposedly pegged to US Dollar.
The LG Art Lab is still rather new, which means that there may not be too much happening within the marketplace currently. LG says that they are going to be adding NFTs from artists on a monthly basis too. If you are a budding NFT artist, you might be able to sell some of your work on the marketplace too.
There is a caveat though. The LG Art Lab is currently only accessible to U.S. customers. In that case, if you are trying to find the NFT trading platform on your LG TVs in Malaysia, you might not be able to find Art Lab even after you have updated to WebOS 5.0.