LG Ends NFT Marketplace on TVs

LG to Close NFT Platform Art Lab by June 17

• LG Art Lab will shut down on June 17.
• The platform launched in September 2022 during the NFT boom.
• All assets will be transferred to collectors’ wallets by April 30.
• Customer support will continue until July 18.
• The global NFT market cap is currently $3.67 billion, down from predictions of $223 billion by 2031.

LG announced the closure of its NFT platform, LG Art Lab, on June 17, with asset transfers and customer support extending into mid-year. The decision reflects ongoing challenges in the NFT market, which has seen significant declines in value and interest.