nft game image banner for LG Electronics, FIFA, Renault Enter NFT and Metaverse Territory

LG Electronics, FIFA, Renault Enter NFT and Metaverse Territory

Posted September 7, 2022 4:39 pm
3 min
By Jethro Sandico

Mass adoption may still be far from the people’s grasp but 2022 is not all bad news for the blockchain space. In fact, several major brands have started integrating Web3 technology into their system this year.

In September 2022, popular brands LG Electronics, FIFA, and Renault kicked off their Non-Fungible Token (NFT) and Metaverse-related projects.

Let’s take a look at some of the big moves in the space early this month.

LG Electronics NFT Platform

On September 4, LG Electronics, a South Korean electronics company known for making TVs, launched its own NFT platform. Named the “LG Art Lab,” the new platform was built with the help of Hedera blockchain.

LG Art Lab has a marketplace where users can buy, sell, and trade, as well as display digital art NFTs – all through their television. Other features include showcasing artist profiles, along with previews to their upcoming drops.

The platform is already available in the United States on TVs equipped with webOS 5.0 (or later versions). Additionally, transactions will be processed by LG-developed crypto wallet Wallypto.

Upon launch of the platform, LG Art Lab also presented prominent New York-based sculptor Barry X Ball’s NFT debut. The prolific artist has held countless solo art exhibits since the mid-80s. He is also a proponent of combining traditional techniques with modern 3D scanning and printing technologies.

FIFA Plans to Launch NFT Platform

On September 2, international football organization FIFA announced the launch of their own NFT platform “FIFA+ Collect.” 

Launching on FIFA+ later this month, the project offers football fans the option to acquire digital collectibles. The sports memorabilia includes art and images from the game’s greatest moments.

“This exciting announcement makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup,” FIFA Chief Business Officer Romy Gai stated, adding “Just like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments and more on new platforms.”

FIFA+ Collect is powered by FIFA’s official blockchain Algorand. It will be available on all web and mobile devices in English, French, and Spanish (with more languages to follow).

“The commitment FIFA has made to bridge to Web3 enabled by Algorand, is a testament to their innovative spirit and desire to directly and seamlessly engage with football fans around the world,” Algorand interim CEO W. Sean Ford stated.

Renault Enters The Sandbox Metaverse

On September 5, popular metaverse game The Sandbox, announced its partnership with Renault Korea Motors, a subsidiary of renowned French auto-maker Renault. The collaboration aims to bring “digital automotive experiences” on the platform.

The Sandbox advocates marketing cooperation with brands on the platform. This will provide Renault Korea a portal to interconnect with future customers, specifically the digital native generation.

“This partnership is an excellent example of a collaboration The Sandbox can develop without any industrial boundaries,” The Sandbox Korea CEO Cindy Lee stated adding, “We are able to introduce new types of experiences that combine automobiles and digital assets in The Sandbox.”

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