LG is ready to make an NFT push and is looking for CTOs with blockchain expertise
Just months after registering a trademark for a cryptocurrency wallet, LG Electronics has declared its plans to appoint two new Chief Technical Officers (CTOs) to oversee its Web3 and blockchain technology operations. According to an article in Digital Today, it is highly “probable” that the new hires will be in charge of steering the company’s expansion into the non-fungible token (NFT) market.
Candidates with a “knowledge of the usability and technology of blockchain technology and NFTs” were sought after, according to a job posting on the business website. According to the company, one of the new hires will be in charge of expansion initiatives connected to Web3, and the other will concentrate on research and apps powered by blockchain technology.
The South Korean company, however, sought to distance itself from rumors that it is about to make a bigger shift toward cryptocurrency.
According to a spokesman for LG Electronics quoted by the same media outlet:
‘There is no new meaning behind the decision to employ new CTOs; it is a business-related problem. The planning for associated businesses, including crypto wallets, is going well.’
In September, LG started beta testing Wallypto, a new cryptocurrency wallet software, for developers. A blockchain-based NFT trading platform powered by Hedera Hashgraph has also been launched by the company.
Additionally, the business is a component of the larger LG Group, a conglomerate that runs businesses in a variety of industries, including construction and fashion brands. Its telecom division, LGU+, unveiled its own NFT expansion project in August. Meanwhile, its IT services division, LG CNS, has long been involved in the cryptocurrency, blockchain, and central bank digital currency sectors.
Several LG affiliates also support the Klaytn blockchain network created by the dominant messaging app Kakao.
Earlier this year, LG Electronics released a gallery app with support from Kakao that enables owners of the company’s smart TVs to exhibit NFT digital artworks on their devices. Another addition to LG’s list of business objectives this year was “the development and sales of blockchain-based technologies, as well as the trading and brokerage of cryptographic assets.”
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