Access to Non-Fungible Tokens (NFTs) has become easier after LG launched an app for trading NFTs. Dubbed the LG Art Lab, the software is available for download on LG Smart TV app stores.
The new app revolutionizes the functionality of smart TVs. It ushers a new era of convenience where access to digital assets will be a basic consideration for technological innovation. The Korean giant announced the launch on Sunday night, and the announcement is taking the crypto market by storm.
About the LG Art Lab App
The LG Art Lab application is available for US-based customers only, according to the Tweet from the @LGArtLab account. In the announcement, the tech giant reiterated its commitment to innovate in art and tech by empowering artists and collectors in the NFT space.
The application is available on WebOS 5.0 for free. Users can browse and discover NFTs for free and only need to pay when purchasing NFTs from their favorite artists.
The first NTF will be live from September 2022 to allow users to familiarize themselves with the app. The NFT will feature Barry X Ball.
The Software is Linked to a Crypto Wallet
For security considerations, the LG Art Lab app does not have an embedded wallet where NFT traders can deposit their Cryptos to pay for their collectible tokens directly. Instead, the app is synced to Wallypto. This is an innovative wallet that LG developed after collaborating with Hedera Network in September.
The Crypto custody services provider has also partnered with tech giants such as IBM and Ubisoft, and it can guarantee optimal security. All that users need to do is to scan a QR code on the TV from their smartphone Wallypto accounts to complete transactions.
The app only supports USD Coin transactions, and other options will be accessible in the future.
The Software is the Second of Its Kind
Not to be left behind, the LG Art Lab Art is an improvement to the Samsung TV Nifty Gateway App. The program is currently running on three versions of the Samsung TV APP. The technological leader introduced the software in May after collaborating with Nifty Gateway. The platform offers digital NFT auction services that display NFTs from famous NFT developers such as Refik Anadol, Pak, and Beeple.
For new TV versions like the Neo QLED, Micro LED, and Frame models, the Nifty Gateway App is pre-installed. Existing users who have difficulties accessing the app should update their software versions to access the application labeled ‘N.’
NFT Is Taking over The Crypto Market
Collectors of art are flocking to the Crypto market to buy, and artists are increasingly tokenizing their art. Investors of digital assets are also driving the growth as they seek to maximize their wealth by buying and selling NFTs.
In the wake of this trend, more futuristic businesses like ESPN and more are embracing NFTs to remain competitive.