LG Leads the Charge in Virtual Reality and the Metaverse at CES 2023

This year's Consumer Electronics Show (CES) saw a number of announcements from South Korean electronics company LG Electronics that demonstrate the company's dedication to the metaverse. 

LG SmartTV NFT Trading

The expansion of LG's NFT trading service, which was previously limited to US LG smart TVs running webOS 5.0 and higher, was one of the major announcements. The company has now announced Blade Wallet, a "security tested crypto wallet on the Hedera network," to allow customers to purchase, sell, and exchange their digital artwork using their LG smart TVs via the LG Art Lab platform.

This move is significant because it expands the accessibility of NFT trading beyond just PC and mobile devices. By allowing users to buy and sell NFTs using their smart TVs, LG is making it easier for a wider range of people to participate in the rapidly growing NFT market. The use of the Hedera network, which utilizes Hashgraph technology, also adds an additional layer of security for users.

LG Metaverse Platform

In addition to the NFT trading service, LG has also revealed that Sansar will now be accessible to customers of its smart TVs. This "social network" will be made possible by cloud service provider Ubitus and is based on a User Generated Market economy. According to reports, Sansar users would have access to live, in-the-moment activities like concerts.

The ability to access live events in the metaverse is an exciting development that could potentially revolutionize the way we experience concerts and other events. It allows for a more immersive and interactive experience that goes beyond just watching a stream on a screen.

Interoperable Metaverse

In order to add a "interoperable metaverse" to LG smart TVs, the company has also reached an agreement with cloud streaming company Oorbit. Users will be able to take use of virtual experiences including virtual concerts on the music-based gaming platform ELYNXIR and AI-generated multiplayer games on the Auxworld platform thanks to this agreement. The implementation of a full metaverse, where users can move between various virtual settings with ease, depends on these various virtual worlds and experiences being able to communicate with one another.

These announcements demonstrate LG’s commitment to the metaverse and its efforts to make it more accessible to users. With the introduction of Blade Wallet and partnerships with platforms like Sansar and Oorbit, LG is positioning itself as a major player in the growing field of virtual reality and the metaverse.