LG Shuts Down NFT Platform Art Lab Amid Market Shift

LG Art Lab, an NFT platform launched by electronics giant LG in 2022, has ceased operations. The service allowed users to buy, sell, and display digital artwork directly on compatible LG smart TVs, with transactions facilitated through the Wallypto wallet.

The platform's use of Hedera provided a connection to a public blockchain network. Initially seen as a prominent example of mainstream NFT adoption, Art Lab expanded to the Ethereum blockchain in 2024 but was ultimately shut down by LG in June 2025 as the company shifted its focus amidst changing market conditions.

The shutdown marks a shift in corporate strategies around NFTs, which had initially been met with enthusiasm from major brands. However, this initial interest gave way to a more selective approach as companies reassessed their digital-asset initiatives.