- Sang has released TVs with NFT capabilities.
- Its competitor, LG is also launching its NFT marketplace, LG Art Lab.
- Both companies announced their goal of bringing NFTs to TVs last year.msu.
South Korean electronics giant, Samsung announced on January 3rd, 2022, that it would launch an NFT platform for its smart TVs. In May 2022, the company finally released the NFT platform which users can access from their smart LED TVs.
The largest electronics manufacturer in the world, in its January 3rd, 2022 announcement, said,
This application provides an intuitive, integrated platform for discovering, buying, and trading digital artworks.
Another electronics giant and a strong competitor of Samsung, LG launched its own NFT marketplace for TVs called LG Art Lab. Users can now buy and sell digital assets on the LG NFT platform instead of mobile phones or desktops.
LG announced the launch of its NFT platform for TVs just a day after Samsung’s launch of its NFT marketplace for smart TVs. The South Korean electronics company announced in a press conference in December 2021 about its plan to bring NFTs to TV.
However, LG’s competitor, Samsung had already announced the launch of their NFT marketplace for smart TVs in May 2021.
Now both companies are strong contenders and the first ones in the market to bring NFTs to smart TVs.
LG Art Lab platform targets US users enabling them to sell, buy and trade NFTs right from the smart TV sets instead of mobile phones or laptops.
According to Chris Jo, the senior vice president at LG Electronics LG Art Lab will “allow millions of users across the US to easily access and view NFTs without having to code themselves or interact directly with a blockchain.”
LG Electronics and Hedera collaborated and started the development of its NFT platform last year in September. After a year of collaboration, LG finally rolled out its NFT marketplace feature for its smart TV on September 5th, 2022.
Chris Jo also added,
The Hedera network uses significantly less power than any other public ledger, making it an ideal choice. Users can buy, sell and view NFTs without worrying about high energy consumption.
LG and Samsung are the pioneers of the global electronics market. Both companies claim 33% of the market where approximately 1.7 billion people own their television.