Thursday, December 8

Source: OlekAdobe/Adobe

LG Electronics has announced it wants to hire two new Chief Technical Officers (CTOs) to lead its Web3 and blockchain technology operations – just months after registering a trademark for a crypto wallet. Digital Today reported that it was highly “likely” that the new hires would be tasked with leading the firm’s expansion into the non-fungible token (NFT) sector.

A job posting on the company’s website called for candidates with an “understanding the usability and technology of blockchain technology and NFTs.” The firm explained that one of the new hires will be responsible for Web3-related expansion efforts, while the other would focus on blockchain-related research and blockchain-powered apps.

However, the South Korean firm appeared to distance itself from reports that the firm is set to pivot further toward crypto.

The same media outlet quoted an LG Electronics spokesperson as stating:

“The [decision to] recruit new CTOs is a business-related matter and there is no new meaning behind this. Preparations for related businesses, such as [crypto] wallets are proceeding smoothly.”

In September, LG began running Beta tests for developers on its new crypto wallet app – Wallypto. The firm has also launched a Hedera Hashgraph blockchain-powered NFT trading platform.


Group-wide Drive into NFT, Crypto Space for LG?

And the company is part of the wider LG Group, a conglomerate that operates business arms as diverse as fashion brands and construction. In August, its telecoms arm – LGU+ – announced its own NFT expansion project. Its IT services arm, LG CNS, meanwhile, has been active in the crypto, blockchain, and central bank digital currency space for some time.

A number of LG affiliates are also backers of the chat app giant Kakao’s Klaytn blockchain network.

LG Electronics earlier this year launched a Kakao-backed gallery app that allows owners of the firm’s smart TVs to display NFT digital artworks on their sets. Also this year, LG added “the development and sales of blockchain-based software, and the trading and brokerage of cryptographic assets” to its list of business targets.

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