US: LG launches an NFT platform on its smart TVs – Are people keen on NFTs?

LG Electronics has announced the release of its non-fungible token (NFT) platform - LG Art Lab - on its smart TVs to enable customers to discover, trade and showcase NFT artwork on their TVs. Users can purchase NFTs via Wallypto, LG’s homegrown cryptocurrency wallet application.

But are current LG customers in the US big on digital assets?

According to YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioral consumer metrics – only 27% of LG customers agree that being able to own digital assets like NFTs and cryptocurrency in the Metaverse is a huge opportunity. While 29% hold no views on this, 44% of LG customers disagree that being able to own digital assets like NFTs and cryptocurrency in the Metaverse is a huge opportunity.

With regards to investing in collectibles, 11% of current LG customers collect digital collectibles like cryptocurrency or NFTs as an investment – slightly more than the 7% of the general US population that collects such items as an investment.

Given that LG’s consumers are more likely than the general US population to collect digital assets such as NFTs, cryptocurrencies and the like as an investment, the company’s decision to enable users to trade NFT’s on their smart TVs might find favor – even if only with a small slice of customers.

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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for the US is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.