Throughout its long history, LG has periodically taken unconventional steps. So it’s no surprise that the South Korean company is participating in NFT. Starting Sept. 4, if you live in the U.S. and own a TV with webOS 5.0 or later, you’ll have access to LG’s new Art Lab platform.
This is a marketplace for buying and selling unplayable tokens. It can be accessed directly through your TV’s home screen. It’s 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 an NFT drop occurs.
According to the daily trading volume on OpenSea, the public has lost interest in NFT. On Aug. 28, $5 million worth of NFT was traded on the trading floor, down 99 percent from the record high of $405.75 million reached just a few months earlier, on May 1, 2022.
During the same period, the minimum price of some of NFT’s most sought-after collections also dropped. In early May, the Bored Ape Yacht Club token would have been worth at least 153.7 Eth (or about $434,000 at Ethereum’s then value). By August 28, you could buy it for just 73 Eth or just over $105,000.
It’s hard to predict how long the company plans to do NFT, but surely there is a user somewhere who can’t wait to show off his bored monkeys and a fancy OLED TV at the same time.
