LG Electronics launches NFT platform in U.S., starting with Barry X Ball's digital artwork

By Lim Chang-won Posted : September 5, 2022, 12:53 Updated : September 5, 2022, 12:53

[Courtesy of LG Electronics]

SEOUL -- LG Electronics has launched a non-fungible token (NFT) platform called "LG Art Lab" in the United States. Users can buy, sell and enjoy high-quality digital artwork displayed on LG TVs, starting with a digital artwork from American sculptor Barry X Ball who reinterprets classical and modernist sculptures using 3D scanning and printing technologies, as well as traditional techniques.

Once purchased, NFTs can be traded on a marketplace, where users can easily view transaction history. LG Electronics said that organic light-emitting diode (OLED) TVs leverage self-lit pixels to deliver infinite contrast, inky blacks and exceptional color accuracy.

As a convenient, one-stop solution for viewing and trading NFTs at home, LG said that its platform profiles artists and previews new works. Available on TVs running webOS 5.0 or later, the platform delivers outstanding picture quality and offers several, large screen sizes to choose from.

Based on Hedera, a public hashgraph distributed ledger that wants to work with leading global companies to shape a digital future for all, the platform makes buying and selling as simple as possible, incorporating onscreen QR codes that let users quickly complete transactions via a crypto-currency wallet for smartphones.

Barry X Ball is making his exciting debut in the world of NFT art with other artists' works to be added on a monthly basis. NFTs are authenticated using a blockchain platform and allow a specific person to own original digital content that cannot be duplicated and record ownership information. 
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