- LG announces that it will switch off the Art Lab NFT platform on June 17, 2025.
- NFT transactions ended on March 10, transfers will be completed by the end of April.
The South Korean electronics group LG has its NFT platform Art Lab on June 17, 2025 switch off. For those who have exhibited their NFT collection on their LG smart TV screen while they sipped on their afternoon coffee, this message can feel as if their favorite shop is closed without notice. In fact, Art Lab was once advertised as the future option of bringing digital art into the living room.
JUST IN: GLOBAL ELECTRONICS CONGLOMERATE LG TO SHUT DOWN ITS NFT PLATFORM AFTER THREE YEARS IN OPERATION
— BSCN Headlines (@BSCNheadlines) March 21, 2025
The platform was opened in 2022 and uses the Hedera-Blockchain network. Their simple goal was to project NFTs on the television screen in the best display quality. Even the direct purchase of NFTS via LGS Wallet app Walsypto was possible by simply scanning the QR code on the screen.
Art Lab also stretched its influence in 2024 Ethereum network. But who would have thought that this apparently shiny path would have come to an end barely three years after the start?
Last call for Art Lab user-closure is imminent
From March 10, 2025, the users of Art Lab will no longer be able to make NFT purchases. LG guarantees everyone who still has their collections on the platform, an immediate transfer of NFT to their wallets until the end of April. Customer service will then be maintained until mid -July, a big farewell before everything is switched off completely.
Another market leader goes – RTFKT is also closed
LG’s decision is part of a long list of large companies that withdraw from the NFT sector. Previously, RTFKT-a digital streetwear brand, which was taken over by Nike in 2021-had also closed in January 2025.
RTFKT was once known as a pioneer of a digital lifestyle that combined sneaker culture, fashion and web3 technology. Although it was a star in its early days, RTFKT finally failed after only five years.
With the Arbitrum integration, rarible chooses fairness before size
On the other hand, CNF reported that Arbitrum merges with rarible. While the rights of the authors remain preserved on royalties, this measure helps to make the NFT trade more smoothly. Rarible has even decided not to collect orders from other markets to protect the artists.
Pudgy Penguins awaken NFTS via AI to life
At the same time, the NFT community produces new innovations that aim to overcome the traditional borders. Pudgy Penguins, an NFT collection in the form of cute penguins, is currently working with OpenLedger to integrate technologies of artificial intelligence. The goal is not only to make NFTS lifelike, but the owners should also have the opportunity to personalize their penguins at will.
The penguins can react to their owners, communicate with them and even learn from them instead of just seeing a rigid picture. Similar to a new generation of virtual pets.
End of Art Lab signals change at Big Tech in terms of
In the case of LG, there is no official explanation as to whether the company will return to the world of NFTs in the future. LG only indicated in the explanation that you want to focus on looking for new perspectives outside of Art Lab.
Of course, you can understand this diplomatic language in many different ways, from complete exit to mere pause before returning with a different approach. However, one thing is clear: the closure of Art Lab is a crucial moment in the changing NFT sector, especially for large technology companies.
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