Host Your Own NFT Art Gallery and Auction House in Your Living Room
LG Announced today that they are delivering a new NFT app to select premium LG TVs: LG Art Lab. With LG Art Lab, you'll be able to display your NFT (Non Fungible Token) art directly on an LG LED or OLED TV in your living room or home theater. You'll also be able to buy and sell NFT art via a safe and secure payment platform built into the app.
First conceived in 2014, the marriage of digital art with NFT ("NFT art") allows artists and collectors to create and trade unique pieces of artwork in the digital domain. The "non-fungible token" (NFT) itself is a blockchain-based asset storing data on another asset (in this case, the other asset is the artwork). While the NFT doesn't technically prevent the artwork from being copied, the NFT does establish authorship and ownership of the artwork. It's similar to the "provenance" which accompanies physical artwork in order to establish the artist who created the work of art. With NFT art, artists can establish royalty clauses within the NFT that allow the artist to be paid a commission on each successive sale of the artwork. And the NFT helps preserve the value of the art by identifying the artist and current owner.
According to the company, the LG Art Lab app is now available for download in the U.S. on LG TVs running webOS 5.0 or later. Accessible directly from the Home Screen, the new platform enables users to buy, sell and enjoy high-quality digital artwork right on their television in the comfort of their living room. With screen sizes up to nearly 100 inches and excellent color resolution, contrast and detail, LG's Premium OLED and LED TVs offer an ideal medium for displaying and enjoying your NFT artwork collection. It's certainly more impressive than a tiny cell phone or laptop screen.
A one-stop solution for viewing and trading NFTs at home, the new platform includes the LG Art Lab Drops feature, which profiles artists and previews new works coming soon to the platform. Meanwhile, the real-time Live Drops countdown ensures users never miss an opportunity to acquire a "just dropped" NFT. It's kind of like Ticketmaster calling you when concert tickets are available for your favorite band.
The new NFT platform is based on the Hedera network, a popular sustainable, enterprise-grade public ledger for the decentralized economy. Hedera makes buying and selling simple, incorporating onscreen QR codes that let users quickly complete transactions via Wallypto - the company's crypto-currency wallet. Once purchased, an NFT can be traded on LG Art Lab Marketplace. The marketplace allows users to view transaction history, while the "My Collection" area allows users to admire and display all of their owned artwork.
For the platform's launch, LG Art Lab welcomes the first-ever digital artwork from well-known sculptor Barry X Ball. Famous for reinterpreting classical and modern sculptures using the latest 3D scanning and printing technologies, as well as traditional techniques, Barry X Ball is now making his debut in the world of NFT art. Ball's unique "Metal" series of digital NFT artwork captures all the textures, details and materials - including precious metals and gemstones - used in the artist's sculptures. This series will be available via the platform's LG Art Lab Drops feature in the next few weeks. Following "Metal" will be Ball's "Stone" series with other works to be added on a monthly basis.
To help users gain a deeper understanding of their favorite NFTs and the creative minds behind them, LG Art Labs includes detailed descriptions and short films that illuminate the artists' creative processes. Users can follow and learn more about each artist in the app's profile feature, and will even have the opportunity to meet some of these artists in person at upcoming, LG-sponsored showings and events.
To find out more about the new app and platform, check out lgartlab.com. If you already own a recent LG TV running WebOS 5.0 or later, then check your TV's home screen and app store for availability of the LG Art Lab app on your TV.
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