After Samsung announced last month it would offer NFTs, you can now buy an NFT for the LG TV. WANT editor Dennis Mons thinks it’s all just nonsense.
First of all: you can earn a lot of money with an NFT if you do it right. The value of a Non Fungible Token can rise considerably, but it can also fall. Critics such as Bill Gates therefore argue that the trade is based on the “greater fool theory”. In other words, it’s what the fool will pay for it. And I agree with Gates.
Beautiful NFT pictures on your LG TV
So LG is now coming out with an NFT marketplace: LG Art Lab. So here you can buy, sell and of course enjoy beautiful pictures on your picture filler. And you are the full owner of that NFT. In other words: a potentially very expensive wallpaper, as far as I’m concerned.
NFT on an LG (Image: LG)
The point is that such an NFT, as will soon be the work of sculptor Barry X Ball, is worth money, but with some dexterity you can probably put the pictures on the your TV already after release via detours of course (which is true for many NFTs). Incidentally, his work is not available at Art Lab until September 22.
Buy NFT
Anyway, if you do fancy having Ball’s work on your TV, you get a QR code on your TV. Then you can complete the transaction with the Wallypto app on your phone. Your LG does need to be running on webOS 5.0 or higher.
For those completely at home in the rather intangible NFT market, LG’s NFT is built on Hedera. Unlike Ethereum or Solana (often used in NFTs), Hedera does not operate on blockchain technology, but uses hashgraph. LG is one of 39 companies that operates Hedera.
Getting in?
Let me preface by saying that I am far from an expert on NFT. But I have looked at it from the beginning with suspicion. That you have an NFT of, for example, an exclusive object in a game I find somewhat defensible. But when the madness with the Bored Ape erupted, it really went over my head.
Anyway: as mentioned, there are probably people eager to get their hands on an LG NFT. And there will be plenty of them, according to the company: new ones are dropped into the Art Lab marketplace every month.
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