South Korean technology company LG Electronics Inc. wants to enter the cryptocurrency sector

On Thursday, a meeting of shareholders took place, at which it was decided to integrate the blockchain into the company’s development plan. According to the Korean JoongAng Daily media resource, the corporation’s charter refers to the “development and sale of blockchain-based software” and “the sale and mediation in cryptocurrency.”

There is an assumption that LG will soon introduce cryptocurrency payment for goods and products. However, specific plans and vectors for business development have not yet been announced. This is not the company’s first attempt to enter the crypto industry: at Art Basel Miami 2021, an immersive NFT under the LG Signature premium brand was showcased. The company is known to be collaborating with Kakao’s Ground X to create a series of smart TVs with NFT support option. LG is also working with Seoul Auction Blue, a digital auction and NFT project company. In addition to mentioning blockchain technology in its corporate charter, LG Electronics is considering further development of medical devices. So, the company released the MediPain pain relief device earlier this year. Other tech companies like Samsung are also keeping up with the cryptocurrency universe. At the beginning of the year, the Samsung team announced the launch of the NFT platform on their TVs and plan to open a personal store on the platform of the Decentraland metaverse.