LG has made the “difficult decision” to close its NFT marketplace for TVs, Art Lab, which was launched in 2022 during a peak in NFT interest.
The platform will be completely shut down on 17 June 2023.
While users can no longer make purchases on the platform as of 10 March, LG will transfer users’ NFTs to their own wallets by 30 April.
The South Korean company said it was “shifting its focus and explore new opportunities”, as it shuttered the platform, which operated on the Hedera network and later expanded to Ethereum.
Art Lab followed a similar platform launched by Samsung for its TVs, which continues to operate.