LG Focusing On Smart TV Metaverse Push At CES 2023

LG Electronics, the consumer tech giant based in South Korea, has shown just how dedicated it is to the metaverse through a series of announcements it has made at the Consumer Electronics Show (CES) this year.

A service named Blade Wallet has been introduced by the company for NFT aficionados for selling, buying, and trade digital artwork they may have at home.

They will be able to accomplish this through the LG Art Lab platform that they can access on their LG Smart TVs.


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Blade wallet

This is a Web3 wallet, which is security audited and operates on the Hedera Network. The network uses distributed ledger technology known as Hashgraph, which has been defined as a blockchain alternative.

Back in September, NFT trading had been introduced by LG for all of its US Smart TVs that were running on webOS 5.0 and above.

However, there had been a restriction; people were only permitted to use Wallypto, which is the proprietary blockchain wallet that the South Korean firm had introduced.

Furthermore, users of the company’s smart TVs will also be granted access to Sansar, the metaverse platform that LG has introduced.

The platform

The platform has been touted as a ‘social platform’, which boasts a User Generated Market (UGM) economy.

Ubitus is the cloud provider that will enable users to also have access to events in real-time, such as concerts.

It should be noted that LG has not just partnered with Sansar for its metaverse ambitions. According to the company, it has also entered into a partnership with Oorbit.

The company said that it had made a deal with the cloud streaming firm to ensure that its smart TVs can offer access to the ‘interoperable metaverse’.

Thanks to this partnership, users of LG smart TVs will be able to benefit from virtual experiences and worlds.


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These include the artificial intelligence (AI) generative multiplayer games that will be played on the platform called Auxworld.

They will also be able to attend virtual concerts held on ELYNXIR, the gaming platform focused on music.

Cooling interest

Even though LG has opted to make some big bets on the metaverse as evident in CES 2023, it should be noted that the hype surrounding the tech appears to have cooled down a bit.

The term had been entered into the Oxford English Dictionary as the Word of the Year in 2022, but interest in the space has cooled down significantly.

After March 2022, a number of renowned metaverse platforms like Decentraland and The Sandbox had seen their user numbers decline by almost 80%.

Likewise, Animoca Brands, the owner of The Sandbox, also reduced its metaverse investment fund target by 50% to $1 billion.

Apart from that, there was also a 60% drop in the stock of Meta, after the company rebranded itself to focus on making its transition to a business model based on the metaverse.

The move does not seem to have worked well for the company and others in the space are also struggling.


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